Developer and contractor Pochin’s has put its 250,000 sq ft Cheshire Investment Portfolio on the market, with a price tag of around £14m.
According to Pochin’s, the money from the sale would enable it to reinvest in key areas of the business, including other construction and property development activities, and the creation of new headquarters for its staff.
The firm’s Cheshire Investment Portfolio covers five industrial assets, two office assets and two retail assets, including the 80,700 sq ft Middlewich Estate on Brooks Lane, a 65,000 sq ft unit on E.r.f Way, and the 21,000 sq ft Emperor Court office in Crewe.
Jim Nicholson, chief executive of Pochin’s, said: “Our construction division has a strong forward order book and we judge this to be the right moment to sell a selection of our non-core assets. We intend to deploy the proceeds in a new purpose-built head office building, and to fund our growing development programme, including projects at MA6NITUDE, Middlewich.”
Christopher Dee is advising Pochin’s on the sale.