The developer has acquired the 150,000 sq ft Allied Business Centre, part of the West Pimbo Industrial Estate in Skelmersdale, as it seeks to grow its investment portfolio to £150m.
HBD, previously Henry Boot Developments, bought the scheme, which comprises 117,000 sq ft of industrial space and 30,000 sq ft of offices, from real estate investor West Pimbo for £4.75m.
Allied Business Centre is occupied by distribution firm Messenger Express Warehousing.
Hamer Boot, executive director at HBD, said: “The industrial market has always been a core focus for our business and is a major component of our investment portfolio and Allied Business Centre is a good fit.
“It is well located with occupiers in place, produces a good level of income and will no doubt offer excellent redevelopment potential in the future.”
HBD was advised by investment agent Carrick Real Estate.
The Skelmersdale deal is the latest in a series of acquisitions by HBD, including Manchester College’s 39,000 sq ft St Johns campus on the edge of Spinningfields in Manchester, which the firm plans to demolish and redevelop into offices.
HBD has also acquired a 2.6-acre site in Birmingham city centre to deliver a £100m mixed-use scheme.
The developer is currently working with a £1.4bn development pipeline.