Barwood Developments (North) Ltd has acquired a 174,198 sq ft manufacturing facility at Huyton Business Park near Liverpool for £5.2m. Barwood intend to speculatively redevelop the site with a state-of-the-art 204,000 sq ft warehousing facility.
The existing 174,198 sq ft manufacturing facility, on Stretton Way at Huyton Business Park, is currently let to Goodrich Actuation Systems Limited for the supply of aeroplane parts to clients such as Airbus. The facility will close early to mid 2015 after which Barwood will comprehensively redevelop the 9.39 acre site and speculatively develop a 204,000 sq ft state-of-the-art warehouse facility.
Huyton Business Park is located at the well-connected Tarbock Island interchange at J6 of the M62 and J1 of the M57. Liverpool John Lennon Airport is just 7 miles to the South. Local occupiers include Parcel Force, Olympic Oils and Halewood International Holdings PLC.
Andrew Dickman, Director at Barwood, commented; “Through the acquisition of this facility, we have an opportunity to ensure that the site doesn’t become redundant following the closure of the factory and instead, benefits from inward investment that will hopefully lead to job creation for the locality”.
“The site is prominently positioned in a much sought after location adjacent to a busy motorway junction and we believe that our proposals will generate strong demand in a recovering market where there is now a serious lack of supply of good quality industrial and warehousing stock.”
“Barwood has a strong track record for the delivery of high quality product and we anticipate significant levels of occupier interest in this opportunity.”
Rob Woods, Director at CBRE who acted on behalf of the vendor CBRE Global Investors stated, ‘ this is a win – win situation, my client achieved their aim of reducing their risk via a sale and Barwood will now take the next step in redevelopment of the site.’
Barwood has appointed the industrial agency team at CBRE on the new scheme.