Engineering firm completes property sales

TEDD Engineering has bought two units at the Holmewood Industrial Park for £760,000.

Suon Industrials has sold the properties, covering 16,831 sq ft, in a deal negotiationed by hlw Keeble Hawson and CBRE.

Richard Smith, partner at hlw Keeble Hawson, said: “Tedd Engineering will occupy one of the sites themselves as they look to expand beyond their existing base in Ashbourne.

“Over the last two years in conjunction with CBRE we have bought six properties and sold three for Suon and it’s encouraging to see a good flow of commercial property deals like these going through in the current climate.”

Roger Haworth, senior director at the Sheffield office of property firm CBRE, added: “Deals such as this demonstrate the returning confidence of occupiers throughout the region.

“Over the last half of the year we have completed a number of transactions where firms from the engineering and manufacturing sectors have upgraded their premises as a result of business prosperity and this bodes well for continued market recovery in 2013.”

The site is close to Sheffield.