http://m3agency.explodingmonkey.com/index.php/siteEnglish/news_item en ryan@searsdavies.com Copyright 2010 2010-03-01T10:31:11+00:00 http://www.m3agency.co.uk/index.php/site/m3_advises_legal_and_general_on_eddie_stobart_acquisitions./ http://www.m3agency.co.uk/index.php/site/m3_advises_legal_and_general_on_eddie_stobart_acquisitions./#When:09:31:11Z Stobart Group ("Stobart" or "the Group"), the UK's leading provider of multimodal transport and logistics solutions, has agreed to dispose part of its Inland Ports asset to Legal & General Assurance (Pensions Management) Limited (advised by M3 Agency LLP), for £61m rising to £62.5m on the satisfaction of further conditions. A key element of this sale is a new 528,000 square feet, state-of-the-art sustainable distribution centre developed by Stobart Group. This was recently announced as the new Northern distribution centre for Tesco's fresh operations. In addition, Stobart was confirmed as the transport contractor for Tesco from this distribution centre. Stobart also expects to increase the throughput of the Inland Port terminal (currently only 50% utilised) when the site is fully operational and when the existing Valencia fresh produce rail service is extended to Widnes. This next phase of the pioneering Stobart Rail service will allow Tesco to transport its fresh produce from Southern Spain to Northern England by rail, delivering significant environmental benefits. In addition to the disposal of the fresh produce distribution centre, the Stobart Ports division has entered into a 25 year sale and leaseback arrangement on the Inland Port terminal. Following this, the Group expects to develop further phases on the remaining 95 acres of the Inland Port in response to customer demand. Andrew Tinkler, Chief Executive of Stobart Group, said: "This asset disposal illustrates a fundamental strategy of our Group which is to invest in assets in order to develop existing and new customer relationships and then realise the value of the asset, at a profit, to reinvest elsewhere in the business. At Widnes this has enabled us to gain a long-term distribution contract for Tesco and to increase the utilisation and support development of the next phases of the inland port facility. The proceeds from this asset sale, will allow the Group flexibility in securing the optimum debt structure for future asset developments, including the expansion programme at London Southend Airport." For further information please see the London Stock Exchange Announcement ( http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10391897 ) or the Eddie Stobart News Article - http://www.stobartgroup.co.uk/NewsCentre/NewsArticle/Stobart-Realises-61M-From-Two-Asset-Disposals-And-Secures-Long-term-Distribution-Contract-With-Tesco-In-The-North/. Eddie Stobart Group were unrepresented in this off market transaction. 2010-03-01T09:31:11+00:00 http://www.m3agency.co.uk/index.php/site/february_2010/ http://www.m3agency.co.uk/index.php/site/february_2010/#When:09:28:10Z BUTCHER'S PET CARE FOODS LTD COMMIT TO 260,000 SQ FT DESIGN & BUILD AT G-PARK, CRICKGazeley and Legal &General Property enter 2010 with a major deal at G-Park, Crick. M3 and CBRE acted for Gazeley in the letting and M3 represented Gazeley on the investment funding. The warehouse will provide the Headquarters for Butcher’s Pet Care’s UK operations, as well as a manufacturing and distribution facility for the Company which currently occupies a building on another part of the site. The deal will see Butcher’s Pet Care Ltd, the leading UK family owned dog food business, take on a 20-year lease. For further information please contact Richard Meering in our Birmingham office. 2010-02-11T09:28:10+00:00 http://www.m3agency.co.uk/index.php/site/january_20102/ http://www.m3agency.co.uk/index.php/site/january_20102/#When:12:01:30Z M3 WINS NEW INSTRUCITONM3 have been appointed by Propinvest as agents for Units 4 &5, Foster Avenue, Dunstable. The units are located off Foster Avenue in Dunstable within the established Woodside Industrial Estate approximately 2 miles west of junction 11 of the M1. The properties comprise two modern semi detached units of approximately 24,865 sq ft and have recently undergone refurbishment. The units can be combined to provide a total accommodation of 49,729 sq ft. Nearby occupiers include CP Tops, Bernard Matthews, DHL and Superdrug. For further information please contact Charlie Howard in our London office. 2010-02-09T12:01:30+00:00 http://www.m3agency.co.uk/index.php/site/january_20101/ http://www.m3agency.co.uk/index.php/site/january_20101/#When:11:55:17Z M3 APPOINTED AGENTS ON DELTA PARK, ENFIELDM3 have been appointed by L&G and Canmoor to act as agents for their 2.3 acre development site at Delta Park. The site is located in the established Brimsdown Industrial Area in Enfield. The site is excellently located 3 miles from the North Circular and approximately 3.5 miles south of junction 25 of the M25. Nearby occupiers to Delta Park include TNT, Warburtons Bakery, PJH Group and DHL. For further information please contact Charlie Howard in our London office. 2010-02-09T11:55:17+00:00 http://www.m3agency.co.uk/index.php/site/january_2010/ http://www.m3agency.co.uk/index.php/site/january_2010/#When:12:08:30Z M3 WINS NEW 142,000 sq ft INSTRUCTION FROM IRON MOUNTAINM3 have been appointed by Iron Mountain as joint agents with JLL to dispose of its new 142,000 sq ft warehouse in Bromley by Bow. The property, which benefits from 12.5m clear eaves height and 12 dock/4 level access loading doors, is located within very close proximity to both the City of London and the 2012 Olympics site and is available on a leasehold basis at a quoting rent of £8.50 per sq ft. 2010-01-11T12:08:30+00:00 http://www.m3agency.co.uk/index.php/site/december_20094/ http://www.m3agency.co.uk/index.php/site/december_20094/#When:08:45:13Z BRETTS TRANSPORT COMMIT TO 78,327 SQ FT IN PETERBOROUGHM3 acted for Gresham Real Estate and Wrenbridge in the letting of Unit One, East 17 which comprises a 78,327 sq ft warehouse unit which has been let on a new lease to Bretts Transports. There remains 7,000 sq ft of two-storey office accommodation prominently located at the front of the development with its own car parking. M3 acted jointly with Savills. 2010-01-05T08:45:13+00:00 http://www.m3agency.co.uk/index.php/site/december_20093/ http://www.m3agency.co.uk/index.php/site/december_20093/#When:08:37:05Z COVA SECURITY GATES SIGN NEW 15 YEAR LEASE IN CRAWLEYActing on behalf of Propinvest, M3 have secured the letting of Unit XC1 at Sussex Manor Business Park in Crawley to Cova Security Gates Limited on a 15 year term. The 22,000 sq ft unit will replace Cova’s existing facility in Horley. M3 were sole agents for Propinvest. 2010-01-05T08:37:05+00:00 http://www.m3agency.co.uk/index.php/site/december_20092/ http://www.m3agency.co.uk/index.php/site/december_20092/#When:08:29:16Z CEVA COMMIT TO 150,000 SQ FT IN BURTON UPON TRENTM3 acted on behalf of Close and Wrenbridge in the letting of a 150,000 sq ft warehouse to Ceva Logistics. Barton 150 was a speculatively constructed warehouse built to a high specification and was let to Ceva on a new lease. Ceva have now undertaken an extensive fitout within the unit. 2010-01-05T08:29:16+00:00 http://www.m3agency.co.uk/index.php/site/december_20091/ http://www.m3agency.co.uk/index.php/site/december_20091/#When:08:26:38Z M3 SECURE 85,000 SQ FT PRE-LET TO JOHN LEWIS AT INNOVA PARK, ENFIELDM3 are delighted to confirm that terms have been agreed for a new 85,000 sq ft warehouse facility at Innova Park, Enfield with the John Lewis Partnership. M3 acted as sole agents for Kennet Properties, the property arm of Thames Water, who have developed Innova Park into the prime business park within the northern quadrant of the M25. John Lewis’ new distribution facility will lie adjacent to the recently completed 54,000 sq ft warehouse for Kendon Packaging. L&G funded the development. 2010-01-05T08:26:38+00:00 http://www.m3agency.co.uk/index.php/site/december_2009/ http://www.m3agency.co.uk/index.php/site/december_2009/#When:08:23:27Z MORRISONS, SWAN VALLEY, NORTHAMPTONM3 acting on behalf of The Swan Valley LLP, managed by PMB Holdings Limited, sold the 330,000 sq ft distribution unit in this prime central UK location, with approximately 13.5 years unexpired, to Scottish Widows for just over £27.5 million, a price reflecting a net initial yield of 6.7%. M3 acted jointly with Phillips Roth. 2010-01-05T08:23:27+00:00