An engineering firm which has been in business for 95 years has bought one of the buildings it occupies on an industrial estate.
Precision engineering firm Boneham & Turner has acquired the second of the three industrial units it occupies on a site alongside the A38 and only two miles from the M1. The family-owned business was based in landmark premises on Nottingham Road in Mansfield for many years.
But it moved out of its site to make way for a new supermarket, transferring its business to the Gateway 28 industrial development off Penny Emma Way, Sutton-in-Ashfield. Boneham & Turner already owned one of the three inter-linked units it occupies at the site but has now bought a second in a deal negotiated on its behalf by Alastair Fearn, of Nottingham property agent FHP.
Peter Boneham, the latest generation of the family to run the business, said: “When the opportunity arose to acquire unit 2b, we were immediately interested because of our unique position of being a tenant of the property.
“The buildings work for us and we were keen to secure our future at the site. We instructed Alastair Fearn to act on our behalf on the acquisition following the initial valuation advice he provided to us.”
Alastair Fearn of FHP Property Consultants said: “Boneham & Turner is a long-established and very well-respected business which settled well into a modern location after its move from Mansfield.
“It made sense for it to buy the unit that it had been leasing and the important thing was to make sure that it secured acceptable terms. “We’ve been involved in numerous industrial property transactions in this area and we were able to use our market knowledge to negotiate effectively and make sure the transaction progressed smoothly.”
Boneham & Turner was founded in 1918 by John Boneham. Today, it provides a variety of high-quality engineering products to customers worldwide operating in the aerospace, automotive, motor sport, power generation, defence and machine building sectors.