Thursday, February 21, 2019

LondonMetric acquires Superdrug distribution centre for £13m


Real estate group LondonMetric has bought a Superdrug distribution centre from OLIM Property for £13m.

The 292,500 sq ft centre in South Elmstall, Doncaster is fully occupied by Superdrug until 2025 and fully caters for its online business. Asda, Next and Findlays currently occupy adjacent space.

The deal is expected to be completed in June 2014.

Andrew Jones, Chief Executive of LondonMetric, commented: “This attractive acquisition of Superdrug‘s distribution centre supports our aspiration to grow our retail distribution portfolio, an area where we will continue to commit capital during 2014.”

CBRE advised LondonMetric and Jones Lang LaSalle advised OLIM Property Limited.

The news comes as Superdrug posted a like-for-like 1.5 per cent sales rise over the Christmas period.