Three warehouse buildings at the Frontier Park industrial estate in Banbury in Oxfordshire have been sold by Zuber and Mohsin Issa's EG Group for more than £72 million.
Monte Blackburn, the private property arm of EG Group – the fuel and convenience retailer which has thousands of operational sites worldwide and which bought the Asda supermarket chain in 2022 – gained consent to build Frontier Park Banbury, an industrial and logistics development close to the M40, in 2019.
EG Group has now sold the freehold interest in two of the warehouses, FP130 and FP180, at Frontier Park to Staffordshire Pension Fund for £45.16 million. Both were sold with vacant possession.
FP130 comprises 133,400 square feet and is located on a 10.28-acre site with 100 car parking spaces, 1 MVA power supply, 12 dock levellers, 3 drive-ins and a 50m service yard.
FP180 comprises 180,000 square feet and is on an 11.12-acre site with 128 car parking spaces, 1.5 MVA power supply, 20 dock levellers, 2 drive-ins and a 50m service yard. Both properties have secured a BREEAM rating of 'Very Good' and an EPC rating of 'A'.
The adjacent 217,000-square-foot vacant property, FP217, was recently sold by EG Group to Cabot Properties in a separate deal for £27.15 million.
Atlas Real Estate advised Staffordshire Pension Fund on the acquisition of the two warehouses from EG Group, and the vendor on the sale of the warehouse to Cabot Properties.
In September, EG Group announced it would sell its remaining UK forecourt business and some foodservice locations to Zuber Issa, one of the co-founders, who would "focus on returning to his entrepreneurial roots with a view to leading and growing a new UK petrol forecourt and convenience retail business, including food service, to be branded ‘EG on the Move’".