£12.7m sale of Towngate Business Park

6th April 2021

A Cheshire business park has been sold  by property company Towngate PLC for £12.7m. Towngate Business Centre, a multi-let warehousing and logistics estate and former Golden Wonder factory in Widnes was sold to Harworth Group PLC on the 31st 

The estate comprises a total of 262,000 sq ft of industrial space, which has been divided into nine warehouse units and lorry park with a rental income in the region of £958,000 per annum. Occupiers include Aggreko UK, Xpel Marketing, Initial Packaging and QA Flooring.

Towngate PLC was advised by Basharat Ali, partner in our commercial property team.

The transaction will add rental income from investments as well as asset management opportunities to generate future value for Harworth as well as new opportunities for Towngate.

“As a well established commercial property company, this deal will allow Towngate PLC to build upon their strong foundations and property offering in Yorkshire. I wish Robert Smith and the team at Towngate every success in the future.” Basharat Ali.

“After 21 years of ownership of the site at Widnes, it will be sad to say goodbye, however the sale offers us an exciting opportunity to explore our investment plans closer to home, within the Yorkshire region.” Tom Lamb, property manager, Towngate PLC.

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