Tandem Investments, the developer behind STOK, has completed the purchase of Cowling Business Park, Chorley from a private family property company.
Extending to approximately 42,528 sq. ft, the multi-let trading estate comprises 18 units and 13 tenants. Being located close to the M62 and Chorley town centre, the estate is well connected to benefit both local and regional occupiers. The estate has been developed over time with half of the units only constructed in the early 2010s.
The purchase price is undisclosed.
Simon Edwards, Director at Tandem Investments, commented:
“We are thrilled to get this acquisition over the line. We had been tracking the estate for a while and were given a 2-week timescale to complete the purchase. 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, whilst Freddie Guest at Savills represented the vendor.
