Fri, 23 Jun 2023 | COMMERCIAL PROPERTY
Ward Group Investments has acquired four buildings on an industrial site in County Durham for £4.5m.
Three of the four units, which comprise of 200,323 sq ft of workspace are already let to PC Henderson Limited, Katem Logistics and Personal Hygiene Services Ltd who have been operating from the estate for more than five years.
The Bowburn North Industrial Estate is situated adjacent to the A1 (M) and sit just north of the Integra 61 development, home to Amazon's Durham fulfilment centre.
Andrew Ward from Ward Group Investments, said: "We are delighted to have closed this deal. Over the past two years, we've grown our portfolio significantly with a number of strategic acquisitions across the UK and the UAE and this is yet another high-quality development to add to our ever-growing list.
"The North East and particularly County Durham are perfectly placed for businesses seeking to capitalise on the growing demand for last mile logistics and investment opportunities don’t get much better than this. It's perfectly placed adjacent to the A1, provides access to a skilled workforce and offers some of the most competitive business rates in the UK, it's absolutely perfect."
Ward Group Investments now has an investment portfolio worth in excess of £100m and are now planning more off the back of the Bowburn deal.
Bradley Hall advised Ward Group Investments on the purchase and Nick Bramwell, associate in the industrial and logistics investment team at Savills Newcastle, acted on behalf of the seller during the acquisition by Ward Group Investments.
Peter Bartley, group director at Bradley Hall, added: "The purchase demonstrates just how high confidence is among investors when it comes to the region's commercial property market. The vendors had numerous regional and international buyers for this estate, but our intimate knowledge of the area and sector helps us secure this for Andrew."
Read more commercial property news.
Opportunity to acquire a well-established office supply services business located in the East of England, renowned for its customer service and comprehensive product range.
An opportunity exists to support or acquire a well-established West Midlands based distributor specialising in branded IT hardware and services.
Impressive furniture business with huge further growth potential. Vendor works in collaboration with some of the finest contract furniture producers across Europe which gives the business a significant advantage over its competition.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.