New Owners for Steventon Storage Facility
Acting on behalf of Albion Land and Hillesden Trust Property, leading commercial property agents, VSL & Partners has acquired a 75-acre site with 500,000 sq ft of storage and warehouse accommodation near the Milton Interchange at Abingdon.
The Steventon Storage Facility, formerly used by the Home Office as a logistics base, is located between Steventon and East Hanney and is home to over 20 businesses in over 100 units ranging in size from 200 sq ft to 27,000 sq ft. Occupiers include logistics, specialist storage, fuel merchants and haulage companies.
Commenting on the deal, Tom Barton of VSL said: “Our clients acquired the Steventon Storage Facility as an ongoing property investment and will be working to upgrade the existing space, amenities and infrastructure in order to capitalise on the current demand for inexpensive storage and industrial space. Albion Land recognise that there is a big market for businesses that don’t want to pay top rents and aim to provide flexible leases to a wider range of business uses moving forward.”
James Dipple, CEO of MEPC said: “MEPC acquired the storage facility from the Secretary of State for Defence in 2000 and took the decision to sell is part of its national investment strategy. This sale of this non-core asset enables the company to focus on the prime estates that MEPC manages such as Milton Park and Silverstone Park.”
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