Developer acquires industrial unit in multi-million pound deal
May 05, 2022
A light industrial unit in Bedfordshire has been sold to a property developer in a multi-million pound deal, commercial property consultants Kirkby Diamond announced today.
The 30,000 sq ft detached unit, at Stratton Business Park, Normandy Lane, Biggleswade, has been acquired by property regeneration company Dunmoore. The company has plans to redevelop the site, said Eamon Kennedy, head of commercial agency (group) at Kirkby Diamond in Luton.
He added: “There is huge interest at the moment in warehouse units and so we were not surprised to see so much interest when we began marketing this unit at Stratton Business Park.
Kirkby Diamond was acting on behalf of the owners, Jewers Doors. It won the instruction in a competitive pitch against other local and national property agents.
“There were a total of nine parties bidding for the unit and it eventually achieved a sale price in excess of the £4 million asking price.”
Kirkby Diamond was acting on behalf of the owners, Jewers Doors. The aircraft hangar door specialist, which occupied the building for more than 20 years, is relocating to a new 50,000 sq ft design and build unit at nearby Pegasus Way.
Jonathan Jewers, of Jewers Doors, said: “The Jewers family would like to extend their gratitude and thanks to Eamon Kennedy and his superb team at Kirkby Diamond for all their hard work exercised during the marketing and sale of our industrial unit in Biggleswade.
“We appointed Kirkby Diamond at the end of December 2021. They immediately set to marketing the property and creating unprecedented interest. Having managed and undertaken a great number of viewings, they secured multiple offers, several of which were in excess of the asking price.
“Taking their expert advice we accepted an offer on 16th February 2022. Seamlessly moving into the next phase they worked closely with our legal team and the purchaser to negotiate and secure the sale with an exchange and completion on the same day, just 40 days later. The Kirkby Diamond team worked with great tenacity and professionalism throughout.”
The site acquired by Dunmoore is a total of 2.1 acres. The unit includes two-storey office accommodation with a factory/warehouse to the rear, has two large sliding loading doors, two rolling cranes, benefits from 200 KVA power supply, has minimum apex of 6.4-metres and an extensive fenced and gated yard.
Stratton Business Park is in a key location for the agri-food sector. The business park is currently being extended with much larger logistics and production facilities being developed.