Mon, 05 Mar 2012 | COMMERCIAL PROPERTY
Melbourne Works, the former headquarters of components supplier Dewhurst, has been sold, it has been
announced.
The freehold commercial property, based in Inverness Road in Hounslow, was sold to Willowcharm for £6 million, including VAT.
Dewhurst, which supplies components to the lift, transport and keypad industries, recently relocated its company headquarters to a commercial property on the Hampton Business Park in Feltham, as the modern office and factory provided there are more appropriate for the businesses’ evolving needs.
Before it was sold, Dewhurst had obtained residential planning permission for Melbourne Works in order to boost its value. Dewhurst will plough the sale proceeds into paying down short-term bank loans in line with its strategy of carrying the minimum of debts.
A statement from the firm said, "The net cash proceeds from the sale will enable the company to full pay down any short-term indebtedness to its bank, enabling a return to its core strategy of maintaining a strong cash position together with minimal or no borrowing."
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