Sunday, July 21, 2024

Former haulage warehouse in Lincoln hits the market for £3.3m

The former home of a family-run haulage firm is being marketed for sale by Watling Real Estate, who are seeking offers in the order of £3.3 million for the 78,733 sq ft industrial / warehousing unit in Lincoln.

The property comprises a detached, self-contained, four bay industrial/warehouse premises, located within the principal commercial district of Lincoln.

Ben Holyhead and Chris Davies of Watling Real Estate’s Birmingham office have been instructed to sell the vacant unit on Freeman Road, North Hykeham, on behalf of joint administrators from Kroll, who were appointed over Cartwright Bros. (Haulage) Ltd on 20 June this year.

Ben Holyhead said: “Given market demand for freehold industrial and warehousing accommodation, we anticipate a good level of interest, from occupiers and property investors alike. We expect demand to be supported by the property’s sub-division and asset management potential.

“Given the critical shortage of standing freehold industrial stock within Lincolnshire and the wider East Midlands, and with the cost of developing new accommodation exceeding £100 per sq ft, we expect the property to be an attractive proposition to a variety of potential purchasers.”

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