A property investment and asset management firm has bolstered its portfolio with a trade hub deal.
Ward Group Investments has bought Tursdale Business Park, in County Durham.
Bosses say the operator will carry out a “significant programme of investment” at the 35-acre site, which will “enhance its commercial offer and improve estate management”.
They add the venture will include a “programme of targeted demolition, refurbishment and the introduction of open storage…to meet the needs of a broad range of industrial and logistics occupiers”.
Based off the A1 near Durham City, Tursdale Business Park – which officials say has taken Ward Group Investments’ industrial property portfolio beyond the one million square foot mark – is home to 35 tenants and includes workshops, factory units and high-bay warehouses.
Andrew Ward, chief executive at Ward Group Investments, which is based at Pity Me, near Durham City, said: “Tursdale has all the ingredients of a highly successful modern industrial estate.
“What it needs now is investment, ambition and a clear long-term vision.
“We’re committing to all three, and to establishing a dedicated operating company for Tursdale.”
He added: “Our plans go well beyond upgrading the existing buildings.
“We will invest in the estate, broaden its offer, introduce new facilities and create a modern, well-managed destination for industrial and commercial occupiers across the region.
“We see a real opportunity to establish Tursdale as one of the North East’s leading industrial locations.”
The site was sold by joint agents Delta Capital Property Investment and Lewis & Partners on behalf of vendor Eggerton Limited.
Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day.
Find out how Bdaily can help →
Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.
