Advised by Glenny LLP, SA Properties has sold a warehouse/distribution complex at 22 Lamson Road, Rainham in Essex for £5.75m to Lituanica, the eastern European supermarket chain. The 85,000 sq ft complex comprises three detached warehouse/distribution units. Jim O'Connell, Divisional Partner at Glenny, which advised SA, said: "Although initially looking to rent the premises, our client, SA Properties Limited, realised that strengthening demand in the freehold sector, coupled with the relative rarity of a property of this size coming to market made the opportunity to complete a sale an attractive one". Originally established in Lithuania and having operated in the UK for approximately 15 years, Lituanica is a wholesaler/retailer specialising in cuisine from Lithuania, Poland, Russia and other eastern European countries. Acting on its behalf, Simon Phillips of Bennett Phillips Luton, said: "Having been established in the UK for a number of years, our client was looking to expand the business and the size and location of the complex at Lamson Road was ideal for this purpose, allowing them to make the Lamson site their UK Headquarters for distribution." Lituanica will continue to occupy approximately 30,000 sq ft at Barking, which will be retained as its main centre for the cash & carry arm of the organisation. Extensive refurbishment and upgrade at the Lamson Road site is due to commence this week with an initial occupation date around Easter 2015, subject to completion of works.
Glenny advises on sale of distribution hub to eastern European supermarket group
By Glenny LLP