Tile Mountain owner expands commercial asset portfolio with private investment
Tile Mountain owner Mo Iqbal has taken ownership of a 20,000sq ft speculatively built trade counter scheme in Tunstall.
The deal marks another significant deal between Iqbal and landowners and developers Clowes Developments.
In 2017, Iqbal purchased a purpose-built head office facility for his company Tile Mountain which covers 120,000sq ft. Since then, his daughter Shamila has also purchased a neighbouring 90,000sq ft building for her company Bathroom Mountain.
Iqbal’s most recent acquisition creates a bundle of commercial assets all located within one area of the wider Brownhills Road scheme.
Highgate terrace units 2-5 were speculatively built by Clowes Developments for storage, distribution, manufacture or trade counter use. The unit’s range in size from 4,400-5,250sq ft and are located at the side and to the front of the large-scale units occupied by Bathroom Mountain and Tile Mountain.
Iqbal said: “It’s been a pleasure to work with Clowes Developments on another exemplary property deal. The units will complement our property portfolio nicely and allows us to embrace ongoing commercial opportunities. The units were purchased to house a showroom for Bathroom Mountain and his new venture Flooring Mountain.”
While the rest of the Clowes development land has all been sold and occupied, there remains a further 10 acres of undeveloped land on Canal Lane.
Marc Freeman, director at Clowes Developments, said: “We’ve enjoyed a very good working relationship with Mo Iqbal over recent years and wish him all the best with his most recent acquisition.
“With regards to our Canal Lane site, we are planning to submit a detailed planning application for a 175,000sq ft industrial/warehouse unit to Stoke City Council before the end of April.”