Property consultants Alder King have secured the freehold sale of the former Heathcoat Fabrics facility in Bodmin.
The sale to Western Counties Roofing was finalised after an extensive marketing campaign which generated strong interest from two bidders. The competitive nature of the disposal is a clear sign of an improving commercial property market in Cornwall and the lack of available industrial accommodation.
The factory and office premises on Lucknow Road have been vacant since the transfer of Small & Tidmas’s production facility to Tiverton in 2010. The facility has now been acquired by Western Counties Roofing Ltd to facilitate the expansion of its Bodmin branch into larger premises. It purchased the property for £425,000 off an asking price of £500,000, a figure that reflects the updating works required to improve the building.
The substantial 21,992 sq ft industrial and office facility sits on a 1.36 acre site on the Walker Lines Industrial Estate, close to the A30 and A38 junction.
Tom Duncan of Alder King’s Truro office said: “Demand for modern industrial accommodation increased last year but there is very little available supply for companies looking to expand.
“This property, while needing some modernisation, is well-located and offered good value for money, factors which resulted in a competitive bidding situation.”