Upholstery firm’s base sold for residential development

THE long-time home of fabric and upholstery supplier Panaz in Burnley has been sold.

Spring Mill in Fence, which has planning permission for residential use, has been sold on behalf of Panaz Properties to Skipton Properties for an undisclosed sum, with law firm Taylors acting for the vendor.

Panaz is one of Europe’s leading suppliers of high quality decorative fabrics and wallcoverings for the worldwide hospitality, healthcare and corporate sectors and had been based in Fence for 25 years before their move to new premises in Burnley last year.

Mike Berry, finance director of Panaz, said: “Taylors worked tirelessly on our behalf, along with sales agent Trevor Dawson, to bring this project to a successful conclusion, within reasonable time.
 
“Their guidance and support through quite an involved and detailed process was much appreciated.”
 
Angela Bhaseen, Taylors commercial property partner, who advised Panaz said: “We are delighted to have advised the company, not only on the sale of this historic building, but on Panaz’s purchase of its new facility on Network 65 Business Park, Burnley in 2015. This marks a new and exciting phase for the company.”
 
Panaz was also advised by Michael Cavannagh of Trevor Dawson and Skipton Properties were advised by Paul Young of Gordons.
 
With offices in Blackburn and Manchester, Taylors is a boutique commercial law firm specialising in all aspects of real estate law.