St. Modwen Logistics, one of the UK’s leading logistics owners and developers, has acquired a 267,000 sq ft logistics unit in Bilston, Wolverhampton, West Midlands.

The unit, known as the Titan 10 Distribution Centre, is let to Pallet-Track, one of the UK’s fastest growing palletised freight distribution companies, originally formed in nearby Wednesbury. The facility has been home to Pallet-Track for more than 15 years and serves as its central UK hub, handling an average of 8,000 pallets per night and servicing its distribution network depots.

Located in the heart of the Midlands, the building is just a ten-minute drive from junction 10 of the M6 motorway corridor and is only 15 miles from Birmingham city centre, offering excellent national road connectivity. It sits in the UK’s logistics ‘golden triangle’, from where 90% of the UK population can be reached within four hours’ drivetime.

James Cooper, Head of Transactions at St. Modwen Logistics, commented: “This transaction represents a rare opportunity to acquire a high-specification distribution facility which is let to a leading UK business, in the ‘golden triangle’. This asset is a great example of the business-critical logistics facilities we are acquiring as part of our wider aggregation strategy.”

Commenting on the deal, Andrew Franck-Steier, Director at Atlas Real Estate, said: “We were delighted to be asked to sell the asset and it was great to have been involved in both the original funding and sale of the deal.” Atlas Real Estate acted for the vendor and Acre Capital Real Estate acted for St. Modwen Logistics.

St. Modwen is a property developer and manager owned by Blackstone focused on logistics and housebuilding. St. Modwen Logistics develops and manages urban and big box warehouses for customers including global logistics and e-commerce organisations as well as significant national and regional enterprises.