Network Space Investments strengthens portfolio with £1.5m industrial acquisition

South Lancs Industrial Estate
X The Business Desk

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Network Space Investments has completed the off-market purchase of a single let industrial building on South Lancs Industrial Estate, Lockett Road, Ashton In Makerfield for £1.5m.

The building is situated at the entrance to the South Lancs Industrial Estate close to junction 25 of the M6 and extends to approximately 29,000 sq ft.

The property is currently tenanted by Chemviron Carbon, which also occupies a neighbouring unit. Included within the purchase was an additional 1.5 acres of industrial development land.

Martin Mellor, managing director of Newton-le-Willows-based Network Space Investments, said: “We are delighted to have acquired this building to add to our growing investment portfolio.

“The property is well located on the edge of the Wigan conurbation and has been occupied by the current tenant for over 25 years.

“The acquisition precisely matches our investment criteria to acquire industrial buildings in urban areas where there is significant future value growth potential.”

Network Space Investments has appointed NSM property and asset management to manage the property.

The vendor was represented by B8RE while Ryden acted for Network Space Investments.