Nottinghamshire business park sold in £2.5m deal
An industrial property specialist says it is set to invest in companies which make a positive difference to society with the profits it makes from a Nottinghamshire business park.
In-site Property Solutions’ new subsidiary, The Impact Branch has bought the majority of Bilsthorpe Business Park for £2.55m in a deal brokered by Fisher German, acting on behalf of the landowner.
The mixed-use, 273-acre site includes a 22,000 sq ft multi-let industrial estate, a coal mine methane energy generation plant and 250 acres of agricultural land.
In-site has now said that it will be looking at selling some of the individual units as well as offering design and build opportunities to businesses.
It is the first property purchased under the firm’s new arm The Impact Branch Ltd, which will see profits made from the development go into projects and organisations which directly benefit people, places and the environment.
Alex Boyle, managing director of The Impact Branch, said: “We’re very happy to have secured Bilsthorpe Business Park. We own a number of mixed-use sites, but this is our first in Nottinghamshire.
“This site has a number of exciting opportunities for us both from a commercial and a green energy point of view and we’ve already began exploring these.
“We’ve already had enquiries from a number of existing occupiers on-site who are looking to expand, and were also looking at potentially selling some of the individual plots.
“It is excellent that this is our very first purchase under The Impact Branch, something we launched to prove the impact investment model can be sustainable.
“It will seek out opportunities to invest in projects and organisations that have solutions for societal and environmental problems, and that will generate a reasonable financial return for us at the same time.
“Generating the highest profits is generally first and foremost in the business world, but we want to be different and invest money in organisations which make an impact.”
While The Impact Branch purchased the majority of the business park, a smaller 10-acre site, including a highways depot let to Nottinghamshire County Council on a long lease, was sold to a private fund for £2m.
Ben Flint, of Fisher German, said: “We are very pleased to complete the sale of Bilsthorpe Business Park on behalf of our client, which was sold off market in two transactions.
“With a strong yield of 3% at the sale of the depot, it highlights the strength of secure, long-income investments, even in the current uncertain climate.
“It is fantastic to hear The Impact Branch’s plans to use profits from the business park for impact investments.”