Andrew & Ashwell Secures £14.75 Million Property Deal
9th March 2007
March 2007
COMMERCIAL property and surveying agent Andrew and Ashwell has sourced and acquired a 37-acre industrial site for a joint future intiative between Highcross and Rotherhill Developments.
The site on Old Dalby Trading Estate near Melton Mowbray, Leicestershire currently houses more than 728,000 square feet of industrial buildings, of which around 555,000 are currently let out to tenants including BT Rolatruc and Copper Cable Company.
Previously owned by Richardson Developments of Birmingham, the property has been sold off the market for £14.75 million.
Highcross, which is based in Newbury, Berkshire, is a property fund management company which focuses on property investment and development opportunities throughout the UK, whilst Rotherhill is a locally-based development company with specialist skills in this property sector.
Malcolm Grayson, partner with Andrew and Ashwell, said particulars of the site's future could not yet be disclosed but added that it was exciting news and we are expect to be promoting a higher quality business environment to a much wider market.
“This is a substantial acquisition and will undoubtedly mean a promising future for the area's economy and employment prospects,” said Malcolm. “Highcross has a solid reputation and has built up a £500m commercial portfolio following the launch of a private equity fund in 2004. We're delighted to have been able to locate and buy such a substantial site for them off-market.”
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