Tandem buys 42,500 sq ft Chorley trading estate

Cowling Business Park is the latest acquisition for the investment firm, which has been recycling similar assets for the last few years.

Tandem Investments has acquired the 42,500 sq ft scheme off Canalside in Chorley from a private family office.

The multi-let trading estate is let to 13 tenants, mainly local SMEs, and generates £220,000 in rent annually.

Simon Edwards, director at Tandem Investments, gave some insight into the deal.

“We are thrilled to get this acquisition over the line,” he said. “We had been tracking the estate for a while and were given a two-week timescale to complete the purchase.”

Edwards added: “We have inherited a well-managed estate, but with opportunities to add value through letting up void units and undertaking a refurbishment programme on some of the older units.”

Chris Ward, director at Avison Young, added: “We’re pleased to have concluded another successful deal with Tandem Investments through the off-market acquisition of this highly reversionary industrial estate in Chorley.

“The property offers significant potential to enhance value through leasing and targeted refurbishments, and we look forward to supporting Tandem as they unlock the opportunities the estate presents.”

Avison Young acted for Tandem Investments. Savills represented the vendor.