PAGG purchased Electra House, located on Electra Way at Crewe Business Park, from construction firm Pochin’s for an undisclosed sum.
The scheme was developed in the late 1980s by a joint venture between Pochin’s, the local council and Business Link.
Currently fully let, Electra House’s occupiers include Medtrade Products Ltd and Block Solutions Ltd.
PAGG boss Brian Reay, a former property director at Pochin’s, said of the transaction:
I have maintained a close working relationship with Pochin’s and am pleased to acquired Electra House off market.
The building was developed to act as a seedbed for businesses and it has been highly successful in that regard.
I dealt with Electra House during my time as director at Pochin’s. Since my retirement, I’m now concentrating on my own property portfolio within PAGG Properties and believe Electra House is an excellent addition.
Cheshire-based commercial estate agents Legat Owen acted for Pochin’s in the deal. PAGG Properties went unrepresented.
Legat Owen’s Andy Butler commented:
We have been letting and managing agents on this building from day one and since that time we have seen many businesses start off in Electra House and then expand and flourish in the south Cheshire area.
Brian has many years’ experience in dealing with commercial property and we look forward to working with him to ensure the building continues to provide a vibrant environment for businesses going forward.
Following the acquisition, Legat Owen will be retained by PAGG as the site’s sole letting and managing agent.