Industrial developer, Chancerygate, has acquired the 4.6-acre B&M Steel site at Matrix Park in Chorley, Lancashire.
B&M Steel will relocate its operation locally but remain in occupation initially on a short-term lease.
Mike Walker, development director of Chancerygate, said: “This asset is in one of the North West’s prime industrial locations and offers considerable potential. We will undertake a comprehensive refurbishment of the existing unit to provide 47,000 sq ft of industrial space for the M6 corridor. There is also some additional land which will enable us to provide either an extended building up to 80,000 sq ft or another speculative development of up to 45,000 sq ft. This could be either a smaller multi-unit scheme or more bespoke mid-box solutions.”
B&M Steel was represented on the transaction by Gerald Eve and Breal Consulting. Chancerygate was advised by Savills.