GRAFTONGATE AND PALOMA BUY BIG IN BANBURY!
Paloma Capital LLP (Paloma) www.palomacapital.com and Graftongate Properties (Graftongate) www.graftongate.com have bought the 200,000 sq ft former Jacobs Douwe Egberts (JDE) distribution centre located just off junction 11 of the M40 motorway, adjacent to the newly completed Waitrose foodstore. The distribution/warehouse unit sits on a site of 13.7 acres and includes a 5-acre car park.
The distribution centre will be extensively refurbished by both Paloma and Graftongate and will be available for occupation from June 2019, the project having estimated completion value of circa £20 million.
Jamie Hockaday from Graftongate says “This is an excellent opportunity to renew the economic life of a core asset, previously occupied by DHL and Aston Martin. There is no competing supply along the M40 between High Wycombe and Birmingham and we are already receiving early occupier interest”.
Chris White, Managing Director of White Commercial Surveyors,
says “This is an excellent purchase by Graftongate and Paloma
and are to carry out an extensive and substantial refurbishment
programme. We are currently experiencing good demand from
logistics and distribution businesses who are looking for locations
in central England. The building will be available for occupation
in mid-June 2019 although it likely that we will be discussing
proposals with various occupiers incorporating their specific
requirements within the refurbishment programme prior to this
Banbury has become more established as a distribution location
over recent years and has attracted occupiers such as Amazon,
Hello Fresh and the Entertainer, all of whom recognise the
importance of the M40 as a trunking corridor, particularly well
placed for those companies importing through the South Coast ports.
GVA acted for Paloma and Graftongate on the Banbury purchase with White Commercial and Savills acting for the vendor. GVA and White Commercial have been retained as letting agents.