EQT Exeter has purchased both a 56,000 sq ft unit and a 120,000 sq ft speculative development at Image Business Park from Seybourne Estates.
The building is known as Imagination 1, while the second development will be known as Imagination 3.
Imagination 1 was pre-let to Spanish plastics manufacturer Contenur in 2019. The unit was designed by Hale.
EQT Exeter will be speculatively developing Imagination 3, which is slated to be completed by the end of 2022.
Carrick Real Estate and LM6 represented Seybourne Estates on the deal, which was for an estimated £20m. Zaman Roberts acted for EQT Exeter.
Seybourne’s Peter Taylor said the company was “very pleased with the investment sales to EQT Exeter at Image Business Park”.
He went on to share what the deals mean for the park’s future, saying: “This will lead to the continual transformation of the estate with further new builds for Imagination 2 and 4 totalling 1000,000 sq ft to follow in the next eighteen months”.
Image Business Park stretches across 40 acres and is the former home of Kodak. Located off Acorn Road, it is part of the wider Knowsley Industrial Estate.