The former Latimer Trend premises in Plymouth have been purchased by Oakmount Control Systems in a deal brokered by leading property consultancy JLL.
The property is located off Estover Road on the Estover Industrial Estate and comprises both manufacturing and office space extending to 36,883 sq ft on a site of 1.7 acres.
Automation, electrical and mechanical engineers Oakmount Control Systems says the purchase will allow further expansion.
Printing firm Latimer Trend went into administration in October last year after trading for 130 years.
Tim Western, lead director at JLL in Exeter, said: “It was of course very sad to see Latimer Trend cease trading late last year, but this has provided an opportunity for Oakmount Control Systems to take forward their growth plans. It is positive news for the Plymouth business community in these uncertain times.”
Phil Partridge, managing director and founder of Oakmount Control Systems, said: “Since the company was created in 2002, we have continued to grow. Our acquisition of the Estover Road property is another step forward for the business. It will allow further expansion and support increased demand for our services.”