Occupier secures warehouse freehold
Timber processing and distribution business BSW Timber has bought the freehold of its 437,374 ft2 mission critical facility in Melton, East Yorkshire after the investment was put up for sale by landlord Kennedy Wilson with a £9.84 million price tag this year.
By Liza Helps, Property Editor, Logistics Matters
KNOWN AS TS1 the detached industrial facility is arranged across two interconnected warehouse buildings on a 20-acre site. BSW had 13 years left on its lease at a current rent of £735,105 per year.
BSW Timber forms part of the wider BSW Group, one of the UK’s leading vertically integrated timber processing and distribution businesses. Established in 1848, the business has over 175 years of trading history and is now one of the largest saw milling and forestry groups in the UK. BSW is privately owned by Binder Beteiligungsverwaltung GmbH, the Austrian family-owned parent of the binderholz Group, founded in 1950 and recognised as one of Europe’s market-leading timber manufacturers.
Graham + Sibbald advised BSW Timber while Carrick Real Estate acted for Kennedy Wilson. Kennedy Wilson acquired the property in 2014.
