Bolton business park sold in multi-million pound deal
A BUSINESS park in Bolton has changed hands in a multi-million pound deal.
KBS Corporate, which specialises in helping owner-managed businesses sell their companies to UK, international and institutional buyers, has brought two-acre Springfield Court from Manchester-based River Street Assets.
KBS will soon move across town to make the complex of Grade A offices its new base when it vacates its current site on Navigation Park.
The business park has five buildings with a total of 51,000 sq ft of office space. Companies based on the park include tax advisers, OneE Group, British Red Cross, ICT supplier IDNS and Child Action Northwest.
Also based on the park is fast-growing energy comparison and procurement company Love Energy Savings, which recently secured £4.5m of development capital from NVM Private Equity and is planning to expand its staff numbers from 70 to more than 150.
KBS is investing more than £1m in refitting the offices which will include a gym, coffee shop and restaurant.
KBS Corporate is also creating a business centre to provide office space for up to 10 young, high growth enterprises.
Companies will be offered a range of services including mentoring from corporate finance experts at KBS Corporate and access to potential investors.
The project will be completed in March next year.
KBS Corporate chief executive John Rigby said: “We are investing heavily in the park to provide first class offices and excellent catering and leisure facilities for everyone on the site.
“I am particularly pleased to be providing a high quality business centre for fledgling companies. At KBS, we are proud to be based in Bolton and committed to helping create jobs in the town and give ambitious young enterprises a head start in business.”
Dan Sweeney, commercial property partner at law firm TLT, advised KBS on the acquisition. John Fletcher of commercial agents Miller Metcalfe also advised.
The exact value of the deal and the identity of the vendor have not been revealed.
