A local private investor has acquired 5 Bedford Road, Petersfield as it expands its portfolio of mixed use properties across Hampshire.
Occupied by local precision engineering company, TEWS Engineering, 5 Bedford Road occupies a significant site on the Petersfield Business Park, with in excess of 18,000 sq.ft of industrial and office space with a ¼ acre secure external storage yard adjacent to the property.
Tews has operated in Petersfield for over 50 years from substantial sites on both Bedford Road and Lavant Street. As technology has improved and the specialist engineering equipment it uses reduced in size, the business has consolidated its operations to three sites in the town.
Commenting on the sale, Stuart Mitchell director at Holloway Iliffe & Mitchell said:
“Having advised Tews on its property portfolio for many years, the decision to sell 5 Bedford Road site was taken having reviewed the requirement for manufacturing space. The agreed sale achieved close to the asking price and the proceeds will be invested in the long-term future of the business.”