Stobart said it also expects to develop further phases on the remaining 95 acres of the inland port, which at the moment is only 50% utilised, in response to customer demand.
Andrew Tinkler, Stobart chief executive, said: “This asset disposal illustrates a fundamental strategy of our group which is to invest in assets in order to develop existing and new customer relationships and then realise the value of the asset, at a profit, to reinvest elsewhere in the business.
“At Widnes, this has enabled us to gain a long-term distribution contract for Tesco and to increase the utilisation and support development of the next phases of the inland port facility.”
He added: “The proceeds from this asset sale will allow the group flexibility in securing the optimum debt structure for future asset developments, including the expansion programme at London Southend Airport.”
