An overseas investor had acquired the Gateway 28 industrial complex in Sutton in Ashfield and a stand alone facility in nearby Cotes Park, Alfreton for owner occupation by one of its manufacturing operational businesses. A change in corporate direction declared the assets surplus to requirement and Innes England were brought on board to advise on the most efficient means of disposal whilst ensuring values achieved were maximised.
Industrial agency expertise
- 430,000 sq ft of modern industrial space declared surplus by a corporate client
- Three detached units on a self-contained site together with a separate standalone facility
- Assets disposed of to a range of owner-occupiers and UK pension funds
Gateway 28 comprised three detached modern industrial buildings providing a range of sizes from 30,000 sq ft to 265,000 sq ft. As a short-term measure, the largest manufacturing facility had been let to a third party but with this lease approaching expiry the decision was made to disposal of the assets.
Cotes Park comprised a modern 65,000 sq ft production facility.
- Innes England secured the disposal of the former manufacturing facility at Gateway 28 to Legal & General UK Pension Fund
- The adjoining units were disposed of to owner-occupiers, West Notts College (30,000 sq ft) and Cooper Medic (70,000 sq ft)
- The nearby 65,000 sq ft modern manufacturing unit on Cotes Park was let to a UK plc
- The investment was subsequently sold to a private pension fund
Successful exit of 430,000 sq ft for a corporate occupier