Morrisons secures ex-Tesco warehouse in Kent
Supermarket Morrisons has secured a former Tesco warehouse in Snodland, Kent following Tesco’s departure to a newer premises in Panattoni Park Aylesford last year.
By Liza Helps, Property Editor, Logistics Matters
PROPERTY ASSET manager investor and developer Logicor, which owns the 264,688 ft2 facility, negotiated a back-to-back deal whereby Morrisons took on Tesco’s chilled-store equipment and maintained effective operations without the need to decommission the facility.
The chilled facility is in addition to Morrison’s 919,443 ft2 regional distribution centre in Sittngburne, which is leased from Tritax.
Morrisons Property Director Ben Kallend said: “Increasing our footprint within Logicor’s UK portfolio will allow us to expand our operational capacity quickly and efficiently. The building’s existing cold-storage configuration means we can quickly be fully operational, which is essential for our UK network.
Morrisons’s already leases a 331,625 ft2 unit Swan Valley, Northampton from Logicor, which it took on a 10-year lease in 2019.
Logicor Director Jack Garrett said: “This lease to Morrisons in Maidstone is a brilliant example of an existing customer looking to expand its footprint within Logicor’s portfolio to serve their end consumers effectively.
“The team worked hard to coordinate Tesco’s end of lease to coincide with Morrison’s start, ensuring the cold store equipment was maintained without needing to decommission the facility, maintaining the efficiency of the site.”
Savills acted for Tesco, and Colliers acted for Morrisons.
