A parcel distribution warehouse in Perth has been sold as part of a £9.9 million deal.
Property investor Urban Logistics is acquiring the site on the Inveralmond Estate which is one of a portfolio of six depots being bought from Connect Group. The depots will be leased back to Connect’s Tuffnells Parcels Express subsidiary for 20 years.
Richard Moffitt, chief executive of Urban Logistics, said: “Despite the perceived uncertainties created by the political backdrop, we remain focused on growing our portfolio and undertaking asset management initiatives.
"Looking ahead, we have a high-quality acquisition pipeline and continue to assess the potential for additional financing to grow the business.”
The other sites in the acquisition are in Coventry, Newport, Plymouth, Leighton Buzzard and Andover.
