Harrison Drury’s commercial property team has advised longstanding client FDC Holdings on the multi-million-pound purchase of its headquarters building – a deal which gives the logistics specialist greater control over its future.
Preston-based FDC has acquired the 330,000 sq ft unit, on Four Oaks Road in Walton Summit, from landlord Harworth in a deal worth £12.3m. It now plans to invest £2m on capital equipment and a range of building improvements.
“This is an important step for our business,” said FDC Holdings chairman Peter Allen. “Owning the building gives us the control we need to invest in more client-facing infrastructure and resources. We make a commitment to our clients about service levels and having control of more of the moving parts that allow us to keep that promise is vitally important.”
Nicola Beneduce, partner in the commercial property team at Harrison Drury, commented: “It’s great to see a longstanding client going from strength to strength. We’re thrilled to have assisted Peter in the latest stage of FDC’s growth journey by advising him on the purchase of the premises, which puts the business firmly in control of its future at the site.”
The £25m turnover business provides palletised distribution, haulage, storage and fulfilment services across a range of sectors, including the food and drinks industry, NHS, construction and online retailing. Its HQ is located within a mile of the M6, M61 and M65 motorways.
The building sits on a 14-acre plot and includes 20,000 square feet of office space. A total of 220 staff work at the site, which also forms the northern hub for TPN The Pallet Network, the UK’s largest palletised logistics partnership. Its high bay warehouse provides 25,000 pallet positions and a transhipping area for TPN.
Preston-based architects JYM Partnership has been retained to advise on the refurbishment plans for the building. Oliver Foster of Savills’ Manchester office handled the sale for Harworth.
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