Bericote rolls up Asda
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.