HARRIS LAMB SELLS NEWCASTLE WAREHOUSE TO DISTRIBUTION FIRM FOR OVER £1.5M
Harris Lamb has sold a Newcastle-under-Lyme industrial unit for more than £1.5 million to a warehousing and distribution firm.
Acting on behalf of Chancerygate, who acquired the unit as part of a wider portfolio from EE Mobile, the business advised on the required refurbishment works in addition to marketing the property prior to securing the sale.
Set on a 1.3 acre site, the 20,000 sq ft unit located on the popular Lymedale Business Park on Dalewood Road benefitted from a large yard and high specification following the owners investment in an extensive refurbishment.
Andy Groves of Harris Lamb’s Stoke office said: “There is a well-documented shortage of good quality, modern buildings in North Staffordshire, where demand outstrips supply, so we were able to accurately advise Chancerygate on the levels of interest this property would attract.
“As such, the business recognised the potential for the site and the heightened demand that would follow after the strip out and refurbishment works were complete. Within the early phase of marketing as works were being undertaken, we experienced strong levels of occupier interest.
“The level of refurbishment, size of the site and its excellent UK access links, courtesy of its close proximity to junctions 15 and 16 of the M6, made it an extremely attractive opportunity, and prior to the works being completed, we had agreed terms to sell the building to Halcion Express; a local family-owned warehousing and distribution business. We’re delighted to have secured an occupier so quickly for our client.”
Andrew Corrie, Managing Director of Halcion Express, said: “We had been looking for larger premises to accommodate our growing business for some time, and the Dalewood Rd unit ticked all the boxes.
“The site was located close to our existing premises, retaining the convenient access to the motorway network, and we were attracted by the high specification of the unit and large yard. It is the ideal premises for us to continue to enhance our operation.”