Logistics specialist TNT has blamed high land prices for the postponement of its expansion and the failure of a proposed joint venture with Frontier Estates.
The third-party distributor had been in talks with the developer to roll out a programme which would have seen four 30,000 sq ft (2,800 sq m) centres built in Leeds, Milton Keynes, Dartford and Basingstoke on 4.5-acre plots.
TNTs property director, Derek Newton, blamed “extortionate” land prices for the collapse of the Frontier deal.
TNT is doing deals with United Carriers. It bought the logistics companys depot in Alton this week.
The site provides a 20,000 sq ft (1,858 sq m) shed. TNT is also on the verge of signing for the similarly sized United Carriers depot in Leeds.
CRCL advised TNT.
EGi News 29/04/02
