Bericote rolls up Asda - Bericote Properties

Bericote rolls up Asda

May 9, 2008

Bericote Properties has bought a 16 acre site from English Partnerships in Washington, Tyne and Wear.

The shed developer has prelet the 70,000 sq ft first phase that is planned on the site to ASDA for a recycling facility.

 

The total funding commitment to buy the site and develop the facility for Asda is around £20m. The deal shows supermarket demand for distribution is strong.

 

Phase two will add around 140,000 sq ft.

 

GVA Lamb Edge and CB Richard Ellis act for Bericote.