A North Lincolnshire Business Centre has been bought by property investment and development company, Hurstwood Holdings in Manchester.
The Queensway Business Centre in Scunthorpe was previously owned by by Dean Property Group, and the recently Refurbished centre boasts 20,820 sq ft comprising 33 offices from 168 sq ft.
Hurstwood Holdings has added the hub to its portfolio as part of a recent £14 million acquisition run in recent weeks, taking its total spend on new properties this year to £35m.
In addition to the Queensway Business centre, the company has completed the purchase of five additional industrial and office properties, nationwide, which include:
- Vision Park in Peterborough: Six modern warehouses totalling 15,037 sq ft and set to undergo a refurbishment, providing flexible leasehold accommodation from 1,150-6,781 sq ft.
- Fraser House in Ipswich: A 16,409 sq ft multi-let office building on Museum Street in the town centre where Hurstwood already owns another building. The prominently located, period building is fully let to Savills (UK) Limited, Peopleplus, Netscout, Attwells and Brewin Dolphin.
- Bridge of Don Industrial Estate in Aberdeen: Comprising six warehouse units, totalling 30,470 sq ft and fully let with occupiers including Andrews Hydrographics.
- Mandale Triangle in Thornaby, Stockton-on-Tees: A 30,656 sq ft industrial building that is part vacant and part let to a Gym company.
- Kings Court in North Shields: Situated close to the town centre, this two-storey modern office building totals 78,577 sq ft, the majority of which is let as a courthouse to the Secretary of State, which has been in occupation for more than 20 years.
Stephen Ashworth, Chairman and CEO of Hurstwood Holdings, says: “So far this year, we have acquired 15 new properties with a total investment value of over £35 million. We are always on the lookout for unique opportunities to boost our portfolio from fully occupied buildings to ones where we can capitalise on our in-house team’s expertise and add value. Whilst we are a North West based business, we are significantly increasing our presence nationally with properties in England, Scotland and Wales, spanning from Inverness to Ipswich. We have the experience and skills in house to manage large commercial investments having grown organically over the last 30 years which has helped shape the future of the business. Our focus is to buy property well and use our skills and efficiency of service to provide value and quality of space for our occupiers large and small and for all aspects of commercial uses.”
The buildings were all sold for an undisclosed figure by auction or private treaty. Together provided the funding for each of the purchases.
