Thursday, November 26, 2020

Three deals in Wigston highlight industrial property demand

Three deals completed by Andrew + Ashwell on industrial property along a single Wigston road highlight continued demand for prime local premises.

With a major deal achieved on warehousing in Pullman Road earlier this year, the Leicestershire commercial property specialist has just completed the sale of further premises at 50 Pullman Road.

Completion followed high levels of interest that ultimately went to sealed bids, resulting in a purchase price above the client’s expectations. A further sale of premises in Pullman Road, negotiated by A+A, is also imminent.

Located off Blaby Road, Pullman Road is a well-established industrial and trade location close to West Avenue and the Chartwell Drive Estate in Wigston Magna.

Covering 5,845 sq ft (543 sq m), the semi-detached warehouse premises has been purchased by local textile company Mars Knitwear.

The Vendor said: “I called A&A for advice as a safeguard, having already taking advice from other local agents. A+A impressed with both their activity in the local market and their knowledge. They advised a very accurate expected price, had clients awaiting property and eventually generated enough interest to go to sealed bids.”

The purchase follows the sale and letting earlier this year negotiated by A+A on neighbouring premises at 56 Pullman Road, subsequently leased to local hospice charity LOROS. The single-story warehouse is now a LOROS out of town superstore selling recycled furniture, homewards and clothing, with an onsite café, easy parking and drop off for donations.

Next-door is a further property has been sold by A+A just prior to Christmas. This two-storey factory premises of 22,250 sq ft, with a secure yard and parking, sold in excessive of the asking price of £1.2m, having received multiple bids.

Tom Meynell, A+A Associate Director, confirms continued demand for high quality, strategically located industrial premises across Leicestershire.

“There is considerable demand out there for good quality premises in locations with easy access to major transport routes. Finding appropriate premises to do business involves not only a painstaking physical search, but also obtaining relevant expertise to strike the right deal for all parties concerned and we are delighted to have secured this string of transactions.”

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