Leading Bristol-based property consultancy Hartnell Taylor Cook has completed the sale of a nationwide logistics portfolio, let to national snack brand Bobby’s Foods Limited, selling to Telereal Trillium Group on behalf of Medway Council.
The sale, which saw Hartnell Taylor Cook come to transact over £14m on behalf of Medway Council and achieve the target for the first year of their agreed disposal strategy, includes seven modern, high-quality industrial units situated in secure and self-contained sites spread across England and Scotland.
The completion of the sale to Telereal Trillium Group marked Hartnell Taylor Cook’s fourth successful disposal for Medway Council, having previously sold the freeholds of Gillingham Business Park in Kent as well as Rainham Shopping Centre and Railway Street Industrial Estate in Rainham, Essex. In concluding the first year of the disposal strategy and having seen Hartnell Taylor Cook raise the required funds for the ongoing disposal programme, strong footings have been set for the second year of the strategy.
Oliver Spero, Director (Investment) at Hartnell Taylor Cook said:
“The Bobby’s Foods portfolio offered a significant opportunity with its scale, distribution, and potential for increased returns. The interest we received in the properties demonstrates the strength of the UK industrial and logistics market at present, but also the importance of location and tenant in these deals. The presence of a stable and established tenant, as well as the positioning of the sites near to major transport links were both key factors in driving interest. We’re delighted to have helped sell the portfolio, concluding a series of four successful disposals for Medway Council.”