Packaging supplier snaps up former Poundland DC in the Black Country

By Liza Helps, Property Editor, Logistics Matters

THE PROPERTY known as Vola 297 totals 297,222 ft2 and has been leased with minimal void following Poundland’s decision to close the facility this year  after its acquisition by US investment firm Gordon Brothers for £1 from Poland-based Pepco Group last year.

Diamond Box has taken a 20-year lease on the property which is currently undergoing refurbishment by investor landlord Boreal IM to target BREEAM Very Good and an EPC A rating.

Poundland invested £14 million in 2005 into the national distribution centre in Bilston which was part of a design and build deal. The building is of steel portal frame construction with profile metal cladding and an internal eaves height of 15.5m. It has 26 dock and three level access doors as well as two yards of 62 and 84m.

Joint agents were Newmark, DTRE and Harris Lamb.

Harris Lamb’s Neil Slade, said: “This deal represents a full circle for Harris Lamb as our team was behind the original deal to Poundland, acting for the tenant on what was a purpose-built facility for them. Further to being instructed by Boreal on VOLA, we were delighted to have identified Diamond Box as the new tenant so quickly and with minimal void. 

“This Midlands investment will see VOLA becoming one of the country’s largest cardboard production facilities, further cementing the business’ strong foothold in the country.”