B8 Real Estate, acting on behalf of a private client, has purchased the Towngate Business Centre in Widnes from Harworth Group plc in an £11.2m deal.
The multi-let industrial park totalling some 270,000 sq ft together with significant open storage and parking areas occupies a prominent position fronting Everite Road, Widnes close to the Expressway.
Simon Wood of B8 Real Estate, who acted on behalf of the purchaser, said: “This is a rare enclosed industrial estate on a significant site of 18 acres that has always had good occupancy levels. It offers my client further opportunities to undertake refurbishment, redevelopment and asset management in the short and medium term.
“The deal, which was agreed after some competitive bidding, demonstrates the continued appeal of the North West industrial market not only for prime assets but also secondary assets such as this where there remains good occupancy levels, tenant demand and opportunities for rental and capital growth.”
Hazel Ramsay of Savills, who acted on behalf of Harworth Group plc, said: “The sale demonstrates the depth of demand for secondary North West industrial assets with attractive underlying fundamentals.”
B8 Real Estate acted for the private purchaser and Savills acted for Harworth Group plc.