Investment firm acquires £9.3m pharmaceutical HQ
PHARMACEUTICAL firm Galpharm International’s UK headquarters has been acquired by an investment firm.
The Barnsley site at Elmhirst Park was bought for £9.3m by Gent Visick on behalf of Mayfair Capital Investment Management.
Galpharm was founded in Barnsley in 1982, and acquired by pharmaceutical giant Perrigo in 2008.
The company committed to a 10-year lease in 2013, after expanding its operations to fill the 158,260 sq ft site, which was owned by M&G Real Estate.
Mayfair was established as a commercial property trust in March 2014, with a value of £184m.
Gidon Amar of Gent Visick said: “Elmhirst Park is a high-quality distribution centre located on the M1 corridor, an ever-expanding and key logistics location. THe tenant continues to invest heavily in the property and is committed to the area.”
Fund director at Mayfair Ned Pumphrey said: The property is let to a superb covenant and is a high-quality addition to the MCCPT portfolio.”
M&G real Estate was represented by JLL.
