A Cheshire business park has been acquired by property developer Harworth Group for £12.7m. Towngate Business Park, a multi-let industrial estate and former Golden Wonder food factory in Widnes was sold by landlords Towngate Plc.
The estate comprises a total of 262,000 sq ft of industrial space, which has been divided into nine warehouse units. Harworth’s acquisition is part of the group’s strategy of growing its income portfolio to cover overheads from recurring rental income from investments offering ‘value enhancement opportunities.’
Richard Bousfield, head of income at Harworth Group, said:
“Towngate Business Park is a fantastic addition to our income portfolio, adding recurring income whilst also presenting asset management opportunities to generate future value…”