Character Group buys Royton mill for £1.7m

CHARACTER Group has announced that it has bought the freehold of Vernon Mill at High Barn Steret in Royton £1.7m in cash.

The firm said the 325,000 sq ft property – a few miles away from its existing central logistics facility at Lees Brook Mill – provides it with more space to expand its core trading business without disrupting existing operations or being forced to relocate.

The company agreed a deal with the seller where it will pay an uplift if the building is sold within the next 15 years at a price of more than £2.2m.

Character Group designs and develops toy ranges under a series of licences. Current licenses held by the firm include Peppa Pig, Doctor Who, Fireman Sam and Zhu Zhu Pets.

A statement uissued by the company’s board this morning said the purchasing the property, which sits on a 5-acre site, “represents a sound investment for the group”.