Vengrove sells warehouse to truck dealership for £4.6m
Belfast-based Renault dealership Diamond Trucks has acquired a refurbished 45,000 sq ft warehouse on Warrington’s Howley Trade Park.
Vengrove Real Estate Management, advised by B8 Real Estate and CBRE, has disposed of the site for £4.6m.
The property, which consists of four separate units, will be Diamond Trucks’ first location in England and is part of its plans to expand its business in mainland UK.
Stalybridge Berkeley Construction has been appointed to remodel and fit out three of the units to create new dealership premises, which are due to open in August this year.
The remaining unit will be let out by B8 Real Estate on behalf of Diamond Trucks.
Harry Nash, director at Diamond Trucks, said: “The acquisition of our new site in Warrington is a good strategic fit for us, extending our influence to support Renault Trucks operators on both sides of the water, and opening up opportunities for new business in the area.
“We continue to see great value in the Renault Trucks brand and its product range that is growing in both market share and confidence, and look forward to welcoming customers to Diamond Trucks UK in the coming months.”
Thomas Marriott, surveyor at B8 Real Estate, added: “The sale represents one of the best prices achieved to date for a refurbished second-hand unit of its size in the region and reflects the strong demand.
“Howley Trade Park is an ideal location for Diamond Trucks’ first UK base close to the motorway network and with easy access to the ports of Liverpool, Holyhead and Heysham.”