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."
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