Deeside Industrial Estate site sells for £2.6m

Chester based commercial property agent Legat Owen has completed the £2.6million acquisition of an industrial facility on Zone 2, on Deeside Industrial Park from owner-occupier, Atlas Copco IAS UK. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

In parallel with the purchase, Legat Owen has agreed a back-to-back letting to PJMCO 2021, a company which manufactures security lockers, on a 10-year lease at a rental income of £300,000 per annum. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The letting is subject to an extensive refurbishment, which is being overseen by Jon Hardie of Legat Owen’s building surveying team. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Located on Second Avenue, the site comprises a high-quality industrial facility providing 61,870 sq ft (5,748.0 sq m) of manufacturing and warehouse accommodation up to a max. eaves height of 8.2m including offices on a high-profile, self-contained site of 3.7 acres (1.5 hectares). ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Matthew Pochin, director at Legat Owen,said: “Legat Owen has been involved in the life-cycle of the building, having advised on its acquisition, refurbishment, letting and ongoing management. Securing an occupier upon acquisition has meant a continuous income stream for our client and the refurbishment will further raise the value of the asset.” ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Hill Dickinson acted as the legal adviser for PJMCO 2021, Keystone Law and Legat Owen represented a private investor, Bolton Birch advised Atlas Copco. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

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