MORRISONS’ giant distribution centre in Bridgwater has been sold – but will continue to operate.

Aviva Investors has offloaded the 780,000 facility, in Kings Drive, near the M5 motorway, to property investment firm, Slate Asset Management.

The “high-quality” site is fully leased by the supermarket giant and is the firm’s only distribution hub in the south west, serving around 10% of its stores, operating 24 hours a day, seven days a week and employing hundreds of people.

Slate said Morrisons “continues to actively invest in upgrades and technologies that are further improving the sustainability and operational resiliency of the centre”.

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Brady Welch, co-founding partner at Slate, said: “This property meets all the key criteria we look for in income-generating essential real estate investments.

“It’s a modern, sustainably-built facility underpinned by a leading national grocer.

“The property’s strategic location makes it uniquely well positioned to efficiently distribute everyday goods to millions of consumers.

“It’s an exciting acquisition for us in the UK, where we continue to actively evaluate opportunities across the essential real estate sector.”

Slate owns around 1,000 commercial properties across seven European countries.

Morrisons has been contacted for comment.