Sale and subsequent letting of 7/8 Foxcover Distribution Park, Seaham
Naylors Gavin Black brokered the sale of the facility here of 132,000 sqft on behalf of administrators which was subsequently bought by Vengrove.
Vengrove retained Naylors Gavin Black to market the property to let and put plans in place to refurbish the facility.
After a number of viewings where there were limited Grade A units of this calibre on the market regionally, negotiations between two parties ensued during the refurbishment programme.
Naylors Gavin Black secured Panther Logistics on a long term lease for the client on an annual rental of £665,000.
Foxcover Distribution Park is an established location built in 2007 just off the A19 and houses occupiers including Biffa, Yearsley Logistics and Metro Mail.