A business park in Rotherham, home to infrastructure giant Balfour Beatty, has been sold for £1.2m.
Westcourt Properties, part of property investment company Westcourt Group, has bought Thurnscoe Business Park which sits within an area which has a number of industrial and office developments.
The specific 4.26 acre site purchased by Westcourt Properties has Balfour Beatty as its sole tenant occupying a number of units.
Tim Hodgson, managing director of Westcourt Group, said: “We’re delighted to have secured the Thurnscoe site – especially as there is a lot of competition out there to secure good standing industrial locations. Over the past year, Westcourt has focused efforts to increase the company’s exposure to industrial commercial investments as there is a consistently high demand for such sites and as such rental values remain strong.
“Balfour Beatty is a fantastic tenant to welcome to our portfolio, and we’re looking forward to a long working relationship with them.”
Harvey Burns and Co acted for Westcourt Properties and Handelsbanken provided the financing for the Thurnscoe deal.
Lyndsay Burns, managing director of Harvey Burns and Co,said: “This is an excellent medium to long term purchase for Westcourt with good rental growth and an underlying redevelopment prospect in the future. The purchase fits in perfectly with the Company’s investment criteria.”
Westcourt Group has also recently secured planning permission to build 5000sq ft of warehousing/start up units in Leeds, with the intention of introducing them to the market later this year.
By Rachel Covill of The Business Desk.