Eddisons seals the deal for Lincoln-based packaging firm
Lincolnshire-based Poly Postal Packaging has bought a warehouse property on an industrial and trade counter site in the city.
The off-market deal was arranged by the local agency Eddisons, in partnership with Banks Long & Co. Eddisons facilitated the sale of Unit 11 at Newporte Business Park on Cardinal Close for the packaging company.
The detached warehouse property spans 15,490 sq ft with an additional 8,698 sq ft mezzanine, situated on a 0.78-acre site just off the Outer Circle Road to the northeast of the city.
Paddy Micklefield, founder & managing director of the packaging business said: “The business has expanded and diversified so much since I started in 2005 as a sole trader on the e-bay platform. Our previous location had become restrictive. We now have plans to expand including a new packaging shop which includes our existing counter click & collect services.”
Micklefield confirmed that he had been looking for new freehold premises on and off for approximately seven years before Eddisons reached out to him.
William Wall from Eddisons, along with Banks Long & Co, managed negotiations for the vendor. He said: “Lincoln’s growing profile as an increasingly viable logistics hub is seeing strong demand for freehold opportunities by investors & owner occupiers, alike – but availability remains squeezed. Knowledge of active players in the local market certainly helped us achieve the best value for our client in this deal.
“While the value of the freehold sold remains commercially confidential, the off-market sale of Unit 11 reflects the nature and the strength of the local industrial market.”
