Harrods has bought a 256,000 sq ft shed in Thatcham, west Berkshire, for its own use.
The luxury department store has paid Gazeley and British Land around £20m for the warehouse. The deal brings about a change of fortune for the shed, which has remained vacant since it was built in 2006.
The acquisition also clears out the last of the stock developed by a BL and Gazeley joint venture, formed in 2001. The developers built four sheds together totalling more than 1m sq ft.
Harrods is proposing to make Thatcham its sole UK distribution centre. It is due to move out of its current headquarters in Osterley, Middlesex, in just over two years.
Harrods had planned to take a bespoke 330,000 sq ft distribution centre at SEGRO’s former Guinness Brewery site at Park Royal, west London, but pulled out before Christmas.
Dowley Turner Real Estate and CB Richard Ellis acted for BL and Gazeley; Harrods was unrepresented.
nick.whitten@estatesgazette.com
To access all EGi news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more.
