Breck snaps up Burnley industrial asset
The investment arm of the Blackpool-based property developer has purchased a 65,000 sq ft factory on Farrington Road Industrial Estate for a sum in excess of £2m.
The building, which Breck purchased from a private pension fund, is occupied by food packaging manufacturer Doric FPD.
Andy Garnett, founder and director of Breck, said: “Like all investment acquisitions, the property is only as good as its tenant.
“We believe in the long-term business of Doric, which has been established in the building and area for many years.
Breck’s development pipeline includes a scheme of 55 affordable homes at Claughton-on-Brock in Lancashire, and eight luxury apartments in Bramhall near Stockport, which are both in for planning.
Since April 2019, Breck has acquired property investments in excess of £10m, and “will soon be completing on other investment and development properties”, according to Garnett. “[Breck is] open for business”, he said.
Breck’s legal adviser on the Burnley factory deal was Coles Solicitors in Harrogate and Wildbrook CRE in Manchester. The vendor was advised by Trevor Dawson Chartered Surveyors.