Dominvs Commercial has bought Blackburn's 492,052 sq ft Walker Industrial Park from Rosedale Property Holdings for £14.5m and says it is actively looking for further investment opportunities.
Home to eight tenants, Walker is the seventh acquisition in the past 12 months for Dominvs Commercial and takes the value of its commercial property portfolio to £75m.
Rob Woods of CBRE advised Dominvs.
Dominvs says it plans to spend a further £45/£50m next year.
Dominvs Commercial is the commercial property arm of the London-based Dominvs Group, which has submitted a planning application for a 306-bed hotel, pictured, on the site of the derelict employment exchange in Piccadilly, Manchester.
Richard Saul, director of Dominvs Commercial, said: "The acquisition of Walker Park marks a significant step in our group's strategy to increase the size of the portfolio of value-add assets.
"Coupled with our acquisition of Wokingham Commercial Centre, the Gold Portfolio and Kayley Industrial Estate in Ashton-under-Lyne earlier this year, this purchase demonstrates our appetite for high yielding industrial investment opportunities.
"Demand for well let industrial assets has intensified over the past 12 months and we see this trend continuing. Buying value-add assets in need of active management will enable us to realise value once we have completed our business plan."