Farran Investments and GoldenTree Asset Management have let 108,000 sq ft of storage and distribution space at Knowsley Business Park, Merseyside, to Relonchen.
The company, which is part of global pharma group Marksans Pharma UK, has agreed a 15-year lease on the space with no break. The facility will now undergo a £2.5m fit-out to meet strict pharma regulations.
Farran Investments and GoldenTree Asset Management acquired the building, which was built by Pembury Real Estate, earlier this year.
Stephen Molyneux, operations director at Relonchen, said: “As an established and growing pharma company the chances are that if you buy your paracetamol or ibuprofen at a supermarket or pharmacy it will probably have been supplied by us. We have plans to move into prescription medicines and wanted a prime building of the highest quality, in a great location and close to our existing Knowsley premises so we could retain our excellent workforce.”
Rob Tilley, industrial partner at Knight Frank, which is joint agent on the building with LM6, added: “This deal proves again that we need industrial logistics and distribution space of the highest quality to be able to support the growth of international companies Relonchem. It justifies the the confidence to build speculatively and the astute move by Farran Investments to acquire it as part of a portfolio.”
