Our client Total Developments has just completed the sale of Prospect Park, its 38,136 sq ft speculative industrial scheme on Deeside Industrial Park, just nine months after practical completion.
Units 2 and 3, measuring 16,750 sq ft in total, were sold just after practical completion to a private investor who has gone on to let unit 3 (11,166 sq ft) to Chester Wool.
Unit 1 comprising 21,386 sq ft space has been let to North Wales logistics specialist Mars-Jones. The company has acquired the unit to service the growth of an existing Flintshire manufacturing company. The resultant investment has subsequently been sold to the buyer of units 2 and 3.
Legat Owen advised Total Developments on the development of the site and the subsequent lettings and investment sales.
Speaking about the disposal, Stephen Wade, Director at Legat Owen, commented:
The success of Prospect Park reflects the quality of the development undertaken by Total Developments and the strength of the Flintshire industrial market.
The scheme, which was developed in partnership with Welsh Government, reinforces the success of the Enterprise Zone policy in driving private sector investment into strategic locations across Wales.
Ed Chantler, Director at Total Developments continued:
We are pleased to have successfully completed the sale of Prospect Park ahead of programme. We worked hard to deliver a quality product and this has been rewarded with early sales.
We remain committed to the speculative development of industrial and logistics floorspace across the North West region in order to meet occupier demand. Our next scheme, Orion Park in Crewe, is nearing completion and we have a number of other new projects in the pipeline.
Unit 2 Prospect Park (5,584 sq ft) remains available to let by way of a new lease. For further details contact Legat Owen 01244 408200.
The private investor was unrepresented.
The scheme was bought for an undisclosed sum.