Four companies check into Burnley business park
PROPERTY investment and development specialist Eshton and law firm Gordons are celebrating after the initial four disposals worth £3.5m were completed at the £50m Burnley Bridge Business Park.
Gordons is advising Eshton on disposals at the site, with the two organisations having collaborated over the park since 2008. Previous activity includes working together on planning issues, finance and grant documentation, the construction team’s appointment and the continuing development phase.
Government-backed Burnley Bridge Business Park is a strategic new 70-acre development, at Junction 9 of the M65.
When complete, the scheme will provide 700,000sq ft of industrial and distribution space, offering units from 2,000sq ft upwards, and is expected to create 1,400 jobs. The park features serviced site packages and on-site amenities and was officially opened by Business Secretary Vince Cable in February last year.
The four disposals form part of the first speculative units to be completed, which are the 64,10 sq ft Cobalt Building and 39,000sq ft Magnesium Court. Further properties at the site will be built to tenants’ specifications.
Catering wholesaler Birchall Food Service, previously based elsewhere in Burnley, is now occupying the Cobalt Building. The company’s arrival means the building now houses one of the largest privately-owned foodservice depots in the UK.
At Magnesium Court, independent company Townsend Music, headquartered at Great Harwood, near Blackburn, which provides services such as distribution, fulfilment, merchandise and printing, has taken 10,000 square feet on a 999-year lease.
A similar length of tenure applies to Rossendale-based general builder, electrical contractor and ground works specialist Equinox Building Services, which is occupying 3,500sq ft.
In addition, Wakefield-based wholesale electrical supplies, service and solutions provider YESSS Electrical has taken 6,500sq ft, on an 11-year lease.
Gordons’ team advising on the disposals was led by commercial property partner Ben Lamb, and its other experts working on the site include construction partner Richard Piper.
Eshton managing director James Chapman said: “Gordons has done a fantastic job for us since we started working with them over Burnley Bridge Business Park.
“Where the initial disposals were concerned, they were quick to respond and adopted a very pragmatic approach, getting these deals from the heads of terms to completion stage as soon as possible.
“We’re a happy client and look forward to working with Ben and the team again over future disposals.”
Construction of the first phase at Burnley Bridge Business Park has been delivered with the help of £3.85m from the European Regional Development Fund and support from Lancashire’s Growing Places Fund.
Mr Lamb said: “We’re delighted to be playing such a prominent role in progressing the largest development on the M65 corridor for over 10 years. We’re not surprised at the demand for space at the site, given strengths such as its outstanding logistical connections and the large labour pool in the area.”
