Rhenus group pays £4.7m for major logistics and distribution centre

The 52,925 sq ft building at Low Moor, Bradford, was bought by its occupier Rhenus Logistics for £4.7m from PPG Land.

Rhenus Logistics, part of the international Rhenus Group, which has 200 staff at nine sites spread across the UK, has occupied the two-story building since 2009 on a 15-year full repairing and insuring lease at a rent of £455,516 per year.

David Williams, managing director of Rhenus Logistics, said: “With the current state of the property sector and historical low levels of interest rates, the opportunity to acquire our Bradford site could not be missed.  A combination of own cash resource, support from our German parent, and a UK bank allowed us to underline our commitment to West Yorkshire as well as making good financial sense for the UK busi- ness.”

Jones Lang LaSalle acted jointly with SBH for Rhenus Logistics. Strutt and Parker acted for PPG Land.