A Coventry-based property, risk and facilities management company has expanded its property portfolio by purchasing an industrial estate in Kettering.
The Wigley Group, which owns and manages business and industrial parks in the Midlands, has invested approximately £800,000 to buy Pytchley Lodge Road Industrial Estate.
It purchased the freehold interest from automotive manufacturer Volvo, arranged by Coventry-based commercial property agent Bromwich Hardy.
The three-and-a-half acre site is located close to the A14 in Kettering and is home to leading commercial recycling facility WEEE Environmental, which moved in to occupy two-thirds of the area earlier this year.
WEEE Environmental, established by Jim Dunne and Robert White, employs around 25 staff and specialises in the recycling of electrical and refrigeration waste.
A second 2,300 sq ft office unit is currently being marketed through Northampton-based commercial property agents Drake Commercial and Prop Search.
The single-storey unit is being refurbished to a high-specification and will include both open plan and cellular office space as well as a kitchen area and W/C facilities.
James Davies, director of The Wigley Group which is based at Middlemarch Business Park, said: “We are always looking for opportunities to strengthen our property portfolio and acquire business and industrial holdings that meet our requirements.
“By investing in the Pytchley Road site we have been able to tap into the East Midlands property market and it has also opened up opportunities for future development.
“We have already attracted WEEE Environmental to the site and we are confident that we will receive significant interest in the one remaining vacant unit.
“The office building is currently undergoing significant refurbishment including the installation of carpeted floors, plastered and painted walls and suspended ceiling with inset lighting.
“The site also benefits from extensive parking facilities which is likely to be particularly attractive to potential occupiers.
“Our company ethos is to invest in the long term and with room for potential redevelopment on site we felt that the site met all of our requirements.
“This is the first time we have invested in Kettering and we will be looking at future opportunities to expand our portfolio in the East Midlands in the next few years.”
The Wigley Group owns and manages business and industrial parks across the Midlands including Coventry and Birmingham.
