- 22 March 2022
- Transport / Logistics Services
A site developed for parcel delivery leaders DPD UK has been sold by its developers to new landlords for £16.17 million.
The Velocity site in Washington, in the NE of England is now a 60,000 square foot storage and distribution unit for the delivery company. DPD UK employs 125 staff at the depot, which was an undeveloped brownfield site for 25 years.
Buccleuch Property constructed and developed the 10 acre site in just 15 months from planning submission to site sale completion. DPD UK has agreed to lease it on a long term basis.
Neil Finnie, director at Buccleuch Property said: “We are delighted to have developed this unit for DPD.
“The quality of the build along with the long term nature of the lease to the tenant meant that this product was extremely well received in the market. The sale continues our strong record of delivering investment grade product to the market.”