£2m land deal sees firm break into East Midlands
A north Nottinghamshire industrial site has been acquired up by a growing vehicle breakers business, following a multi-million pound deal brokered by commercial property consultancy Innes England.
The 6.2-acre site, located in Kirkby-in-Ashfield and named The Sidings, includes open storage land with a office building and gatehouse. The site also has long-term development potential with outline planning permission previously granted for 81 new homes.
Innes England acted on behalf of vehicle recycling company Charles Trent Properties on the deal, which was worth just over £2m.
Bradford-based car parts company Parts Emporium is the new operator for the site – it’s second in the UK. The company specialises in breaking down cars and selling their accessories and components to businesses overseas.
Marc Trent, managing director of Charles Trent Properties, said: “We are really pleased with this deal and are delighted with Innes England’s ability to secure such a good value for this site. We chose to work with Innes England for this disposal for a number of reasons but felt that the consultancy was best placed to handle such a disposal in guiding us with in-depth knowledge and helping to manage our expectations.”
Scott Osborne, director at Innes England, said: “This is a fantastic deal for Innes England and we are really pleased to have secured a great result the client in less than two months from receiving the instruction. This is a sizeable deal surrounded by a mix of well-established industrial and residential dwellings in an appealing location, with easy access to the M1 motorway.
“We received strong interest early on and it is great that we were able to secure the sale within weeks of it first coming to the market. The industrial and logistics sector is buoyant at present and follows a trio of successful deals we secured recently at Castle Park, a prime industrial site in Nottingham city centre – it is great that we are continuously disposing industrial property however there is becoming a shortage of supply and we would welcome the opportunity to discuss with property owners how best to disposal of their assets.”