Bericote and JP Morgan JV snap up Goliath in £60m debut
A joint venture between Bericote and JP Morgan has made its debut by acquiring a 666,000 sq ft warehouse in Coventry for £60m, Property Week can reveal.
The JV has bought the Goliath warehouse, which was owned and occupied by Toys ‘R’ Us before it went into administration, with plans to redevelop it.
Property Week understands the JV made the debut acquisition in the space of just two weeks and is looking to build a logistics platform in the UK.
The 41-acre site next to junction 2 of the M6 in north-east Coventry comprises 646,500 sq ft of warehouse space and 19,500 sq ft of office space, as well as an additional 59,000 sq ft of mezzanine floor space. Some 401,000 sq ft of the warehousing has a 16.2m internal height and the rest has an internal height of 8.4m.
The site has 119 dock loading doors, one level access door, 133 HGV spaces and 191 car parking spaces.
DTRE acted for the JV. JLL acted for Toys ‘R’ Us’ administrators.