PAG adds to Morecambe portfolio with £2m deal

16 April 2020 10:57 Dan Whelan Comments (0)

Property Alliance Group, the developer behind Axis Tower in Manchester, has bought Northgate Business Park from OCS Group in a sale-and-leaseback deal.

Under the £2m transaction, international facilities management firm OCS Group will lease the facility from PAG for a period of 12 months.

The business park, which is part of the larger White Lund Industrial Estate off Bay Gateway in Morecambe, comprises two industrial units totalling 33,000 sq ft, and a 20,000 sq ft office building.

PAG was advised by Manchester-based agent Ryden while OCS Group, which has its head office in Old Trafford, was advised by Savills.

The deal is PAG’s second acquisition at the White Lund estate, after it bought 43,500 sq ft of space there in 2008 that was most recently leased to Design Plus Health and Beauty in 2018.

Ian Hunter, director at PAG, said: “We are actively seeking more industrial and office opportunities to further grow our portfolio.

“Northgate Business Park offers three distinct buildings and multiple uses, so we are confident that it will quickly attract and retain new occupiers in the future.”

Other occupiers at White Lund Industrial Estate include Stagecoach, Screwfix, Howdens Joinery, and Arnold Clark.