Gloucester-based logistics firm, CM Downtown, has acquired a letting opportunity at a former Tesco 300, 000 sq ft distribution site, near Chepstow. This is a move to support the company’s fast -expanding property portfolio.
Tesco was advised by Cardiff’s JLL Property Consultants on the four-year lease enabling CM Downton to sub-let the space until 2021.
Part of the Newhouse Farm Distribution Centre, the large-scale unit was originally built for Tesco in the late 1980s and consists of 15 industrial spaces.
High-calibre occupiers include Bidvest, Bond International and Asda which operate logistics from the warehouse.
Ideally located immediately south of Junction 2 of the M48, it conveniently connects Gloucester to the Monmouthshire and Chepstow areas in south Wales.
In total, the property consists of 16,000 sq ft of office space, and a 248, 975 sq ft distribution warehouse, which is temperature controlled. It also houses large trailer and lorry parking facilities, plus a detached car park facility all based on the 20.24 acre-site.
The new plant is within close proximity to another of CM. Downton’s sites in Chepstow, which takes the company’s total number of UK depots to 16, including in Avonmouth, Coventry, Leeds, Chatham, Kings Lynn and its Gloucestershire.