Acquisitive investment and development company TBI is buying Coventry Airport and has signed up Parcelforce for a £100m distribution ‘superhub’, the biggest scheme of its kind in Europe.
Parcelforce will take two purpose-built sheds on adjacent greenfield sites within the airport grounds. A 25,000 sq m (269,107 sq ft) unit will handle Parcelforce’s express traffic while a 12,000 sq m (129,171 sq ft) will handle the company’s international traffic.
The deal is dependent on the completion of TBI’s negotiations with Coventry Council to buy 80% of the shares in the airport. Once the transaction is complete, Parcelforce will lease the units from TBI.
According to a Post Office spokesperson the deal will not be affected by the group-wide review of spending announced earlier this week.
EGi News 23/01/97
