An industrial complex in Stoke-on-Trent is set for a new lease of life following its acquisition by London-based investor Vengrove.
The former headquarters of the Dudson pottery firm in Tunstall will be converted into high-quality units to address the shortage of industrial workspace in the area.
Industrial property agents B8 Real Estate advised Vengrove on the purchase of the property from Biz-Parks, which was represented by Adam Wildig of Avison Young.
The 250,000 sq ft industrial facility, which is set within a 9.4-acre site off Scotia Road, was previously occupied by Dudson, one of the UK’s oldest tableware brands. Established in 1800, the company went into administration in April 2019. The building is currently occupied on a short-term lease by the online appliances company AO.com.
The work, which will include reconfiguring and refurbishing the property to create a grade A multi-let industrial estate, will begin in summer next year after the current lease comes to an end.
John Burrows of B8 Real Estate commented: “The property represents a rare opportunity to acquire a substantial industrial complex and add value by converting it into a high-quality industrial and trade estate. The development will address the shortage of good quality industrial space within Stoke-on-Trent and North Staffordshire and help attract new jobs to the area.”
Mounsey Surveyors provided occupational market advice to Vengrove, with Dentons providing legal advice. Darren Hamer of Hill Dickinson provided legal advice to Biz-Parks.