Disposal Leads to Acquisition Appointment
Acting for Wincanton plc, Cushman & Wakefield was asked to dispose of its 220,000-square-foot facility in Hoddesdon Hertfordshire without void to growing discount retailer Poundland.
After establishing a relationship as a result of the deal, we were appointed to advise on the retailer’s longer-term acquisition project, a forward-funded 350,000-square-foot design and build project in Harlow. Once complete, the new site will create up to 650 jobs at the peak of its operation.
The distribution center represents a $60-million investment for Poundland with the aim for it to be operational by 2014. The base build and fit-out contracts will be project-managed by Cushman & Wakefield as well.