Howard Tenens, advised jointly by Savills and Whitmarsh Lockhart, has purchased the former Triumph manufacturing facility on Groundwell Industrial Estate in Swindon for an undisclosed price.
The self contained facility is comprised of a 117,920 sq ft (10,955 sq m) warehouse with 44,793 sq ft (4,161 sq m) of mezzanine space and a two storey administration office building at the front. The property is located on an extensive site of 7.2 acres (2.9 hectares) which offers the opportunity to expand the accommodation, subject to planning permission. Built in 1980, the site benefits from two road entrances; one from Arkwright Road as a main entrance and another at the rear for commercial vehicle access off Crompton Road.
Simon Emms, Property Director at Howard Tenens, comments: “Groundwell Industrial Estate is a fantastic addition to our portfolio and offers plenty of scope for reconfiguration and refurbishment of the property. We intend to commence the refurbishment works shortly to provide a flexible and modern warehouse facility, with the works due to be completed at the end of Q2 2017. This acquisition bolsters our offering in Swindon where we currently have extremely high occupancy levels at our main Europa Industrial Park. The strategic location, with fantastic road access and wider links to the south and industrial midlands, together with high occupier demand should make this an exciting proposition in the market.”
Rob Cleeves, director in the industrial team in Bristol, comments: “We are pleased to be involved in this exciting project moving forward. The site has been well maintained and comes with the added benefit of expansion land to the side, which can be developed with the correct planning permission. With the lack of available property in the market we are sure that the property will be attractive to a wide range of occupiers.”
Paul Whitmarsh of Whitmarsh Lockhart, adds: “We are already experiencing good levels of interest in the property from prospective tenants, not having yet fully launched the property into the occupational market which is very encouraging.”