Harris Lamb completes £1.5m sale of industrial unit
Harris Lamb has completed the sale of an industrial unit in Staffordshire to a warehousing and distribution firm in a £1.5m deal.
The agency sold the 20,000 sq ft unit on the Lymedale Business Park, Newcastle-under-Lyme, on behalf of Chancerygate, which originally acquired the unit as part of a wider portfolio from EE Mobile.
Harris Lamb advised on the required refurbishment works in addition to marketing the property prior to securing the sale.
Andy Groves, of Harris Lamb’s Stoke-on-Trent office, said: “There is a well-documented shortage of good quality, modern buildings in North Staffordshire, where demand outstrips supply, so we were able to accurately advise Chancerygate on the levels of interest this property would attract.
“As such, the business recognised the potential for the site and the heightened demand that would follow after the strip out and refurbishment works were complete. Within the early phase of marketing as works were being undertaken, we experienced strong levels of occupier interest.
“The level of refurbishment, size of the site and its excellent UK access links, courtesy of its close proximity to junctions 15 and 16 of the M6, made it an extremely attractive opportunity.”
Prior to the refurbishment works being completed, Harris Lamb had agreed terms with Halcion Express, a locally-based family-owned warehousing and distribution business to acquire the premises.
Andrew Corrie, managing director of Halcion Express, said: “We had been looking for larger premises to accommodate our growing business for some time, and the Dalewood Road unit ticked all the boxes.
“The site was located close to our existing premises, retaining the convenient access to the motorway network, and we were attracted by the high specification of the unit and large yard. It is the ideal premises for us to continue to enhance our operation.”