Warrington business park changes hands in £19.2m deal
The sale of Taylor Business Park, outside Culcheth in Warrington, has just completed for the price of £19.2m for all of the land and buildings associated with the site.
The site consists of 55.15 acres of land, with and a mix of industrial and office space across 284,773 sq ft, and has extensive HGV parking facilities.
Paul Taylor, managing director of Taylor Business Park Ltd, said: “We’re delighted that the buyers, Ribston, based in West Yorkshire, have a similar hands-on-approach to ours and want to see the site sustain its high level of security and appearance that have been maintained since the 1960s.
“We’re sad to see it go, but this is a new chapter for everyone now.
“We’ve created a new management company, Taylor Estates (Cheshire) Ltd, and we’ve already started looking at some interesting properties that are out there.”
He said: “It’s business as usual for us.
“The plan is to reinvest the funds into Warrington and the North West, sticking to industrial and commercial property and steering away from retail.
“The sale of this site and the price it has achieved just go to show how much investors recognise Warrington and Cheshire as a key part of the Northern Powerhouse and how it’s a logistical jewel in the crown of the North West, with the convergence of so many major motorways and rail networks.”
He added: “We were very pleased to work with CBRE, Antrobus Capital Partners, KK Thompson solicitors and Claire Murphy Legal to achieve this.
“It was a challenging sale as there was a lot of unregistered land involved with the site dating back to the 60s when it was bought from the Ministry of Supply.
“Despite this the whole process, from going on the market to the completion of the sale only took four months.”
The buyer, Ribston, added: “We are delighted to have completed the acquisition of Taylor Business Park, which represents a significant holding for us and is complementary to other assets in our fund.
“From the first inspection we were immediately impressed by the attentive manner which three generations of the Taylor family had managed the estate.
“Having now acquired it, we look forward to forming our own relationships with the tenants, many of whom have had very long standing presence on the property.
“Having a material asset in Taylor Business Park consolidates our representation in the North West, where we own a number of properties on Trafford Park and also in Preston, Wigan, Bolton, Accrington and Stockport.”
During the sale Cushman & Wakefield acted on behalf of the buyer.