Hortons swoops for Hotter Shoes’ Skem shed
The Midlands-based property company has acquired a 157,000 sq ft industrial unit at Pimbo Industrial Estate in Skelmersdale, let to the footwear brand on a 10-year lease.
Hortons bought the industrial and warehouse unit in an off-market transaction from a UK-based investment fund.
Occupying an 8.85-acre site on Pimbo Industrial Estate, the 157,458 sq ft property is located close to Junction 5 of the M58 motorway and within three miles of the M6/M58 interchange.
It operates as both the headquarters, and as a manufacturing and logistics hub, for Hotter Shoes.
The acquisition takes Hortons’ portfolio over the 5.5m sq ft mark, with industrial and logistics assets forming an increasing proportion of its holdings.
Steve Tommy, head of asset management at Hortons, said: “This is a prime industrial investment and an important step in further diversifying our portfolio.
“We remain focused on acquiring well let, income producing assets, and this acquisition demonstrates our willingness to look beyond our traditional Midlands base to secure the right opportunities.”
Hortons was represented by LSH, while B8 Real Estate acted on behalf of the vendor.
This is the same as leasehold property price hikes as we’ve seen in Manchester and throughout the UK.
By Dot