Investment News | 15 March 2022

Developer completes business park deal

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A developer has completed a deal to buy a Derbyshire industrial estate, which has potential for future development.

PMW Property has bought Booths Industrial Estate, at Ilkeston, which comprises approximately 35,000 sq ft of industrial accommodation set on a 4.5-acre site.

The existing units are fully let with the remainder of the site available as hard standing land.

Darran Severn, from FHP, who secured the deal, said: “Booths Industrial Estate is income producing with the potential to substantially increase the rent roll by leasing the vacant hard standing sites.

“That, combined with the possibility of future development, made this an appealing site.”

Matthew Wrigley, from PMW Property, said: “We are excited to have completed on this new multi-let investment site in the heart of Ilkeston.

“There are a number of tenants that all specialise in different sectors. We are looking forward to meeting them all and getting to know them and their businesses.

“The parcel of land that sits empty on the site currently we are hoping to rent as a hard standing yard as these seem to be coming harder and harder for people to find at the moment.”

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