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LOGISTICS SPECIALIST FDC HOLDINGS ACQUIRES 330,000 SQ FT PRESTON HQ FROM HARWORTH
Preston-based logistics specialist FDC Holdings has acquired its headquarters building from previous landlord Harworth for £12.3m. The company says it will now invest a further £2m on capital equipment and a range of building improvements.
The 330,000 square foot unit, on Four Oaks Road in Walton Summit, 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.
“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.”
This latest acquisition brings FDC’s total space to nearly a million square feet across 3 sites in Preston and Blackpool.
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 on-line retailing. Its HQ is located within a mile of the M6, M61 and M65 motorways.
Andrea Morley, Director of Asset Management at Harworth Group plc, commented:“We are delighted to have completed this sale to FDC Holdings, the culmination of a successful working relationship between FDC and Harworth over many years. FDC’s planned investments in this well-located facility demonstrate its growth ambitions, commitment to customer service, and support for the local economy in the north west.”
Oliver Foster of Savills’ Manchester office handled the sale for the vendor. Legals were handled by the Preston office of Harrison Drury for FDC Holdings, with Freeths in Liverpool advising Harworth.
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.”
Preston-based architects JYM Partnership has been retained to advise on the refurbishment plans for the building.