Millfield Estates has sold its last remaining retail property in Bolton to a Chinese investor, offloading the 15,700 sq ft Moorland House opposite the Market Place shopping centre.
The building on Knowsley Street features a mix of offices and retail units, and counts Brand Interiors, Wed2b, Optical Express, Box Power, and Hidden Hearing among its tenants. These lease agreements have transferred to the new owners.
It has been sold for £625,000 to a private Chinese investor, and Millfield is planning to reinvest the funds from the sale into building its industrial and warehouse portfolio. It currently owns a further five buildings in Bolton.
Paul Dobson, property director of Millfield Estates, said: “As a Bolton-based firm, Moorland House has been a central feature of Millfield Estates’ portfolio for almost thirty years, but we felt the time was right to pass on this prestigious building. The new owners will be able to build on its strong heritage within the exciting local authority-driven plans for the town and we wish them well.
“We are always looking for new opportunities to expand our portfolio and we intend to reinvest the funds released from the sale into new projects of our own.”
An overhaul of the town centre’s retail offering forms a key part of Bolton Council’s £1bn masterplan for the area. Under the proposals, the existing Crompton Place shopping centre will be replaced with a mixed-use leisure destination, with BCEGI and Midia on board to help deliver the £250m project.