Oxenwood Real Estate Snap Up Washington Logistics Facilities

4th October 2022

Oxenwood Real Estate has snapped up two logistics facilities in a sale-and-leaseback transaction with GXO Logistics.

The facilities in Washington near Sunderland and Ivybridge to the east of Plymouth, have been leased back to GXO Logistics on a 10-year deal, with break options in the fifth year.

They were acquired by Oxenwood for Oxenwood Catalina, its joint venture with Catalina Holdings (Bermuda) Ltd. 

The 114,441 sq ft facility in Washington is located on the Wear Industrial Estate and offers 360-degree vehicle circulation, loading access to all four elevations, trailer parking with external storage and 18 loading doors.

Washington is home to a number of manufacturing and engineering logistics occupiers including Rolls Royce, BAE Systems and Nissan.

The 59,951 sq ft facility in Ivybridge is located on North Road and benefits from good access to the A38 Devon Expressway.

It comprises a detached 1960s warehouse, benefitting from access from three elevations of the building and large yard areas on two sides.

Occupiers include Princess Yachts, Langdon Transport and Bandvulc Tyres.

Stewart Little, co-founder and chief executive of Oxenwood, said: "These two facilities are well located in strong regional markets. They provide an excellent tenant covenant and secure long-term income."

Oxenwood was advised by DTRE and GXO Logistics was advised by Clews and Co, Vickery Holman and Nick Atkinson, HTA Real Estate.