Equation Properties have purchased Bradbury Business Park in Braintree from Tristan Capital for £6.125 million.
In conjunction with Sheikh Holdings and ICG Longbow, Equation Properties intend to redevelop the site to provide 185,000 sq ft of industrial units on the site, which already has planning consent.
Simon Holley of Equation Properties said: “There is tremendous pent up demand in this location and we are aiming at the freehold market. We have already agreed to sell one unit and are talking to several other occupiers, all on a freehold basis.”
Farouq Sheikh of Sheikh Holdings said “We are happy to continue our relationship with Equation Propertiesm particularly focused on the industrial and logistic markets, which continues to show growth”.
Avison Young acted for Tristan Capital and BNP Paribas Real Estate acted for Equation Properties.
