Savills Investment Management has sold the freehold of its last available warehouse at Didcot Quarter, in Oxfordshire, to auto parts supplier Allmakes PR2 4X4 on behalf of a corporate pension fund.
Allmakes PR2 4×4 has bought DQ190 for £26.5m. The business, which is an independent wholesaler of parts and accessories for Jaguar and Land Rover vehicles, will occupy the space in full. The facility measures 190,714 sq ft.
The deal comes after logistics solutions provider Simon Hegele signed a deal for a new 10-year lease at DQ120, also at Didcot Quarter, as well as an acquisition by CloudHQ of 39 acres of land for the development of an 831,000 sq ft data centre campus.
Toby Green, head of industrial and logistics for London and the South East at Savills, said: “Situated in a prime strategic location with excellent access to the A34, Didcot Quarter provides premium, highly sustainable warehouse accommodation, making it ideal for all of the businesses operating from the scheme. It is testament to its strong ESG credentials and unique design that we were able to complete the final deal, meaning Didcot Quarter is now fully occupied.”
Lucy Winterburn, director of investment at Savills IM, said: “Following the original acquisition in 2011, we have successfully navigated an extensive planning, design and procurement process, including the agreement of a part land sale, to speculatively develop out Didcot Quarter and deliver two BREEAM Excellent distribution warehouses totalling [circa] 310,000 sq ft. We are extremely proud of the outcome, with the sale of DQ190 neatly rounding off our business plan for the development.”
Savills and CBRE advised Savills IM on the deal.
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