Lincolnshire based Blue Brick Investments & Developments has further expanded its commercial property portfolio with the £4.5m acquisition of the Oldham premises of Wickes’ home improvement and garden centre retail operation.
Located in a prime position close to Manchester, Rochdale and Ashton under Lyne, the 25,000 sq ft retail warehouse on Larch Street has recently undergone a £1m major refurbishment.
The property – a private sale – is one of 240 Wickes stores nationwide which is strategically regarded as a ‘hub’ store that also services the Manchester region for online sales.
Mike Bullas, founder of Blue Brick Investments & Developments brand said: “An exceptionally strong performing store within the Wickes portfolio, the acquisition perfectly complements our extensive experience in commercial property and growth of our investment arm.
“Thanks to the expertise of Keebles and Estate Office, the purchase progressed smoothly and in a formative period as we expand our multi million pound commercial, residential and healthcare portfolio with prudent and measured investments.”
Richard Smith, Keebles’ partner and head of the commercial property department which advised on all legal aspects of the transaction said: “Mike Bullas is a long-standing client and we were pleased to act in this key acquisition for one of his companies as the Blue Brick brand continues to go from strength to strength.”
Richard Wolfryd of London based Estate Office property consultants, commented: “We identified the investment opportunity as a perfect fit for Blue Brick’s portfolio. Situated next to kitchen and domestic appliance providers, the store’s location and track record ticks all the boxes in Blue Brick’s expansion.”
With almost three decades of experience, the Blue Brick Investments & Developments brand invests in wide-ranging commercial, residential and healthcare property.
Its past and present commercial portfolio of clients and tenants includes blue chip companies including Iceland, Handelsbanken, Go Outdoors, Travis Perkins, Co-op and global niche oilfield services company Reservoir Group.
