Bexley Council will consider selling off the Erith distribution centre they purchased for £9.8 million in 2018, after failing to find a single tenant for one of the warehouses on the investment property.

Members are set to consider a report relating to the disposal of the Turpin Lane site at next week’s full council meeting.

A council report lodged ahead of the meeting details the recent history of the centre.

“The overall site comprises two large warehouses, one disposed of on a long lease by a previous owner and occupied by a carpet wholesaler, the other vacant,” it reads.

“At the time of purchase, evidence from the council’s agent supported a clear investment case. Despite this and extensive marketing of the vacant warehouse by two agents, no letting has been achieved.”

The report states there is now a prospective buyer for the site lined up.

Research done by the Bureau of Local Investigation in 2018 shows the council bought the centre for £9,810,000 in April of that year.

The bureau’s research also revealed Bexley Council was among the top 10 councils in England for property investments, following a buying spree which saw them snap up 10 properties in the preceding three years. 

The decision to consider offloading the property, due to be taken at a July 15 meeting of council, is set to be discussed with press and the public excluded, with the authority citing commercial sensitivities as the reason.

Bexley Council signed off on plans to purchase and then let the site in January 2018.

According to commercial property website NovaLoca, the detached warehouse and industrial unit was built in the 1990s.

The 3.23 acre site includes office space as well as nine loading docks for lorries.