Prinovis has sold the freehold interest of its 627,217 sq ft former printing facility at Estuary Business Park in Speke to GB Europe for an undisclosed price.
In addition to the existing facility, the site also has further expansion land of nearly 27 acres. GB Europe has the option of using the existing building or developing a logistics unit of up to 1m sq ft.
In March last year, CBRE’s industrial and logistics and office agency teams were appointed to sell the site and following a competitive bidding process, completed the transaction within just five weeks of agreeing terms.
Neil Kirkham, senior director at CBRE, said: “Having received a significant amount of interest in this site, we are delighted to have concluded this transaction in a five-week period, a real accomplishment in the current market. The site has been so widely courted due to its strong location and redevelopment potential, and we look forward to seeing it come to fruition in the coming years.”
Darren Hill, director at CBRE, added: “With buildings extending to 630,000 sq ft on a site of 50 acres, this sale represents one of the region’s largest transactions in recent years. Due to the constrained supply of sites of this nature, this was a real market test, and the level of interest we received illustrates the continued strength of the industrial and logistics sector in the North West”
KLIPA acted on behalf of GB Europe.
