Moorfield completes 325,000 sq ft lease renewal with Geberit UK at Cheshire East distribution warehouse

Moorfield Group, a UK focused real estate fund manager, on behalf of Moorfield Real Estate Fund IV (MREF IV), has agreed a five year lease renewal with Geberit UK, the European leader in the field of sanitaryware, at its prime distribution warehouse in Alsager, near Crewe, North West England.

The modern property, which was acquired by Moorfield in 2018, features 10.2 metre clear heights, 11 dock loading doors, along with parking for 32 cars. Geberit, which employees 12,000 people in 50 countries, uses the 325,000 sq ft single-let warehouse as its sole national distribution centre in the UK and has occupied the site for a number of years.

 
Alsager, located between Crewe and Stoke-on-Trent, provides excellent connectivity via the UK motorway network, with Junction 16 of the M6 less than three miles away, whilst Crewe Railway Station, a major interchange on the West Coast Main Line is eight miles away and Manchester, Liverpool John Lennon and Birmingham International Airports are all within an 80 minute drive time. Reflecting its strategic importance as a logistics hub, a number of national and international occupiers have distribution facilities in the immediate area.
 
Hugh Canham, Senior Asset Manager at Moorfield, says: “Having identified the property’s reversionary potential on acquisition, this lease renewal is a significant asset management achievement, reflecting both our pan-UK local market expertise and deep occupier relationships. This is a prime asset let to an extremely strong covenant, in a sector that continues to demonstrate robust performance during this highly volatile period.  We remain committed to delivering on our strategy, which is centred on identifying real estate supply/demand imbalances and targeting sectors benefitting from societal shifts, as we look to progress our growth ambitions.”