Knightsbridge picks up 98,000 sq ft Deeside shed

Mayr-Melnhof Packaging has sold its former North Wales home to Knightsbridge House Estates for substantially below the £4.5m guide price, according to market sources.

The 97,900 sq ft warehouse sits on three acres off Fourth Avenue in Zone 2 of Deeside Industrial Park. It is currently vacant.

Knightsbridge House Estates has already shared its ambitions to refurbish the warehouse into two smaller units in line with market appetite. It has recruited sister company Bearmont Construction to handle the build.

Legat Owen negotiated the deal for the unit. The purchase price was undisclosed.

Legat Owen has been retained as the agent by Knightsbridge and has already received interest from the market in the property.

“It will bring in some good quality refurbished space to Deeside,” said Rupert Chadwick-Dunbar, a surveyor at Legat Owen.

The warehouse is one of several at the 105-acre Zone 2 of Deeside Industrial Park, which sits by the A550 Expressway. A total of 850,000 sq ft of industrial space is present at the park, according to sales materials – this includes two new-build properties: the 39,700 sq ft Deeside 40 and the 63,200 sq ft Deeside 63. Meiller-Boweld signed a lease for Deeside 63 at the start of this year.