Corby toy mega-warehouse sold for thirty million

The Smyths toys warehouse at the Midlands Logistics Park in Corby has been sold for £30m – making it one of Corby’s most expensive pieces of real estate.

The Arrow248 site in Geddington Road is already let on a 15-year lease to the toy giant, which took on the building in 2021.

Owner Arrow Capital Partners sold the huge site to property investors Leftfield Advisors for £30m.

It sits adjacent to other big name retailers including BSH, iForce and Europa.

Rob Howe, head of real estate, Europe at Arrow Capital Partners, said: “This sale demonstrates the strong demand for long-leased, well-located warehouse space with excellent sustainability credentials in the UK.

"This sale will allow us to recycle capital to take advantage of opportunities that are likely to emerge as valuations and finance rates settle over the coming months.”

Leftfield Advisors CEO Nico Fourie said: “Leftfield’s acquisition is a quality warehouse in a well-selected location and a key contributor to supply chain efficiencies. It is let on an excellent covenant and will enjoy strong rental growth going forward.”

CBRE advised Arrow on the sale with Gerald Eve acting for the buyer.

Smyths Toys says it is the fastest-growing and largest toy retailer in Europe and has more than 100 stores in the UK and Ireland as well as nearly 100 in Europe which it acquired from Toys R Us.

It has two warehouses in Corby – with its other one based at Max Park just over the A43.