Merrington Industrial Estate in Spennymoor, County Durham has been purchased by a North East entrepreneur for £8,000,000 in a deal facilitated by property firm Bradley Hall.
Andrew Ward purchased the site in the first investment for his new firm Ward Group Investments, which was set up following the sale of Workwear Express for £50m in 2021. Andrew has also developed an extensive property portfolio throughout his career, and is an experienced developer and landlord. The firm is set to invest in a diverse range of properties including industrial, retail, office, leisure and student accommodation across the North East.
Mr Ward said: “The acquisition of Merrington Industrial Estate is the first under the new Ward Group Investments brand. We are looking for a range of opportunities across the North East. I am looking forward to operating the firm as a family business, with my son and daughter also being appointed to key roles within the firm. “I am passionate about investing in the North East, in creating new and quality job opportunities and retaining business and enterprise within the region. I saw great success in creating a multi-million pound business from roots in Durham which created hundreds of job opportunities along the way and I hope to see more of our region’s businesses thrive.”
Bradley Hall’s group managing director, Neil Hart, acted on behalf of Northumberland Estates Limited during the acquisition by Andrew Ward, owner of Ward Group Investments.
Neil Hart said: “The Merrington Industrial Estate is a fantastic investment opportunity to purchase a fully occupied industrial estate in a prime position. Not only will this transaction support a range of local businesses and their employees, but it also demonstrates that the commercial market in the North East is buoyant for significant purchases and investment opportunities.”
The site comprises 10 units, all of which are currently occupied by tenants including companies such as Engineered Foam Products Limited, NE Logistics, UK Storage Vaults Ltd, and Stiller Warehousing & Distribution Ltd. Bradley Hall associate director, Joseph l’Anson will be managing the industrial estate on behalf of Merrington Lane Limited.
Joseph l’Anson, associate director at Bradley Hall who will continue to manage commercial units at Merrington Industrial Estate said: “Bradley Hall offers a full service approach to commercial property in terms of service charge administration and rent collection whilst also assisting with any other property requirements each client may have.
“I am very much looking forward to working with Andrew to manage this site, as well as maintaining relationships with existing tenants and I am confident that other investment opportunities such as this will appear in the future.”
