Asset Type: Industrial
Clifton Moor, 5 George Cayley Drive, York YO30 4WW
The property is let to Menzies Distribution Limited, the tenant company we completed the sale and leaseback with on the Menzies portfolio in 2019. They continue to have a strong covenant strength with an Experian score of 100. Menzies established in 1833 they now distribute newspapers and magazines to almost half of the UK, provide retail logistics and parcel delivery services to in excess of 30,000 locations each day and employ over 4,000 people. The business has a turnover of over £1 billion.
Menzies Distribution recently acquired JBT Distribution for an undisclosed amount. JBT Distribution is based in Bathgate, West Lothian, along with sites in Aberdeen, Inverness, East Kilbride, Lerwick and Kirkwall. The logistic firm has annual sales of more than £23m, due to the size of its supply chain services business. Its acquisition by Menzies extends network coverage and adds an additional 200 vehicles and six operating sites.
In December 2020, Menzies acquired Bibby Distribution, now named Menzies Distribution Solutions, which added 38 new operating sites and a larger fleet.
York is a historic Cathedral City situated approximately 35 miles north east of Leeds, 93 miles north east of Manchester and 280 miles north of London.
York benefits from excellent road communications and is strategically positioned approximately 13 miles east of the A1(M) (Junction 44), which provides direct access to the M1 (Junction 47) a further 3 miles to the south. The M62 (Junction 34) is accessed approximately 25 miles to the south and connects the City Manchester in the west.
The property is located 3 miles north of York City Centre.
The property is situated on Clifton Moor Industrial Estate, the premier industrial location serving the City of York and it is also close by to Clifton Moor Retail Park, a substantial out of town scheme that extends to over 500,000 sq ft and is home to major retailers, anchored by Tesco and including the drive through Burger King and KFC units being separately acquired by CREIT.
The property benefits from excellent road links via the A1237 which forms the northern bypass to York and connects with the national motorway network via Junction 47 of the A1(M) to the west. The A1(M) connects with the M62 (Junction 33) linking the City to Hull in the east with the M1 (Junction 42) and Manchester to the west.
The property comprises a detached warehouse building extending to 28,601 sq ft. The total site area extends to circa 1.36 acres, giving an approximate site coverage of 43%. The unit was constructed in circa 1986 by East Riding Builders who have held the property since and are now selling due to retirement.