A private investor has purchased 3.7 acres on zone two of Deeside Industrial Park in Flintshire.
The site on Second Avenue contains a 61,870 sq ft warehouse with office space. That facility has been let to security locker manufacturer PJMCO 2021 on a ten-year lease. The rental income of the property is £300,000 a year.
According to Legat Owen, the agent behind both the acquisition and the letting, the lease is contingent on the warehouse being refurbished. Jon Hardie of Lega Owen’s building surveying team will oversee the changes.
“Legat Owen has been involved in the life-cycle of the building, having advised on its acquisition, refurbishment, letting and ongoing management,” said Matthew Pochin, director at Legat Owen.
“Securing an occupier upon acquisition has meant a continuous income stream for our client and the refurbishment will further raise the value of the asset.”
Hill Dickinson was the legal advisor for PJMCO 2021. Bolton Birch advised Atlas Copco.
Keystone Law and Legat Owen represented the private investor who purchased the property.