Specialist business removals firm Bishopsgate has bought the freehold of its Royal Wootton Bassett head office and warehouse for £2.5m.
Property agents say the deal reflects a growing trend for businesses to purchase their buildings rather than rent them, particularly those in prime locations.
Bishopsgate, part of the London-based upmarket removals group Ward Thomas since 2008, has occupied the 54,288 sq ft unit on the Interface Business Park for several years. It acquired it from Leicester-based property fund managers Custodian in a transaction negotiated by property consultants Alder King and Colliers.
The depot includes 48,138 sq ft of warehouse space and 3,442 sq ft of office accommodation with a service yard suitable for large vehicles.
Bishopsgate specialises in moving and installing sensitive and high-value equipment ranging from CT scanners to exhibition pieces, and also has depots in Glasgow, Manchester and London which, with its Royal Wootton Bassett operation, total 80,000 sq ft of hi-tech warehousing and storage space. The company owns a fleet of 65 vehicles.
Last June it acquired Allport Cargo Services’ specialist services business for an undisclosed sum.
Managing director Tim Bloch said the purchase of its building followed the Allport acquisition and strong organic growth.
“We have found the site has excellent road links and good local economic growth and the purchase shows a strong commitment to our staff and customers in the area.”
Associate at Alder King’s Swindon office, Alison Williams, who represented Custodian, said: “There has been a marked increase in demand from owner occupiers to purchase but there is a real shortage of large scale good quality buildings ready for immediate occupation in and around the Swindon area.”
Tim Davies, head of Colliers in Bristol which acted for Ward Thomas, said: “Ward Thomas recognised the attributes that the property had to offer with its top specification accommodation, and excellent location for access to the M4.”