THE former Travis Perkins warehouse in Appleton Thorn has been sold for £7.5million.

An estimated 88 employees were made redundant when the builders’ merchants giant closed its distribution centre on Appleton Thorn Trading Estate earlier this year.

But it is anticipated that more than 200 new jobs will be created after the 11.03 hectare site on Lyncastle Road was purchased by Tungsten Properties, which is described as ‘one of the UK’s leading mid-box industrial and warehouse developers’.

Subject to planning permission being granted, it hopes to redevelop the ‘outdated’ unit into a 243,000sq ft commercial warehouse known as Tungsten Park Warrington – including offices, 18 loading bays and a 229-space car park with a new access.

Demolition work could begin later this year, and it is hoped that the new unit will be available to let from late summer 2021.

Warrington Guardian:

Tungsten’s purchase was funded by British Airways Pension Trustees Ltd, with Pegasus Group now preparing an application for consent from Warrington Borough Council.

Ian Dunckley, development director at Tungsten Properties, said: “Our latest acquisition in Warrington, which is our second funding partnership with British Airways Pensions Trustees Ltd, responds to the lack of new logistics stock in the north west and demand from businesses for new state-of-the-art expansion space.

“Savills recently reported that the north west has a logistics’ market vacancy rate of just 5.48 per cent – the lowest level ever recorded – and with the development pipeline in the area below one million sq ft, they calculated that the region has just 1.07 years’ supply.

“Therefore, our investment aims to meet market demand to create workspace, jobs and solutions for business and ultimately consumers.”

Colliers International and Moriarty and Co have been appointed as letting agents, with the former having acted on behalf of Tungsten for the purchase.

Nathan Khanverdi, associate director at Colliers, added: “We are delighted to have acted on behalf of Tungsten, acquiring a prime logistics site which is located on arterial routes from the south of England to Merseyside, Greater Manchester and north Wales.

“Subject to planning, this speculative 243,000sq ft building will be one of the only new developments of this size to be delivered in 2021.”