Blackburn industrial estate sold for £14.4 million
2:04pm Friday 6th December 2013 in News
A BLACKBURN industrial estate once home to Jack Walker’s Walkersteel has been sold for £14.4million.
The 492,052ft2 site off Walker Road has been sold to Dominvs Commercial, a division of the Dominvs Group.
A spokesman for the London-based company said it intended to retain the current tenants at the site and to conduct a performance review over the coming months.
Jack Walker, who died in 2000 aged 71, set up Walkersteel, which moved to Church in 2007.
Eight businesses are currently operating out of the industrial park.
The purchase marks the seventh acquisition for Dominvs Commercial in the past 12 months, with the company confirming it will invest in the park.
The site was sold by Rosedale Property Holdings.
Richard Saul, director of Dominvs Commercial, said: “The acquisition of Walker Park marks a significant step in our group’s strategy to increase the size of the portfolio of value-add assets.
“Coupled with our acquisition of Wokingham Commercial Centre, the Gold Portfolio and Kayley Industrial Estate in Ashton-under-Lyne earlier this year, this purchase demonstrates our appetite for high yielding industrial investment opportunities.
“Demand for well-let industrial assets has intensified over the past 12 months and we see this trend continuing.
“Buying assets in need of active management will enable us to realise value once we have completed our business plan.”
The Dominvs Group invests, develops and manages the capital of the Ahluwalia Family Trust with £50million of UK investment planned for 2014.
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