Prospect Estates Ltd have sold two industrial units on the Brackenhill Business Park, Peterlee.
The two units which total 48,434 sq ft were sold to a private individual.Prospect Estates bought the two units in 2013 which were then office buildings. Over the subsequent years they secured the Freehold from Durham Council and obtained planning permission which allowed them to then redevelop them into industrial buildings.
Tim Whittaker, director of Prospect Estates said, “the sale of these buildings demonstrates the high confidence of owner occupier investments in the industrial market in Durham area. We’ll be reinvesting the proceeds of this sale to continue expanding and improving our national portfolio.
Prospect Estates Ltd have sold two industrial units on the Brackenhill Business Park, Peterlee.
The two units which total 48,434 sq ft were sold to a private individual.Prospect Estates bought the two units in 2013 which were then office buildings. Over the subsequent years they secured the Freehold from Durham Council and obtained planning permission which allowed them to then redevelop them into industrial buildings.
Tim Whittaker, director of Prospect Estates said, “the sale of these buildings demonstrates the high confidence of owner occupier investments in the industrial market in Durham area. We’ll be reinvesting the proceeds of this sale to continue expanding and improving our national portfolio.