Family business DLS Construction Company Ltd has completed the sale of its 105,200 sq ft multi-let industrial estate in Chesterfield after 43 years of ownership.
The firm, which was established in 1983 and is run by director Sue Smith, operated the successful Station Lane Industrial Estate in Old Whittington attracting more than 30 tenants across 52 units.
West Midlands based property asset management firm Sheet Anchor Commercial Property Company Ltd who are part of the M Core Group purchased the estate for an undisclosed sum and will operate it as a going concern.
They will also continue to maintain and also refurbish the site.
The deal included 52 units of industrial accommodation, part open storage and various containers used for light and general industrial use and warehousing.
Commercial property solicitors Howard Wade and Abi Johal of Sheffield’s MD Law advised DLS on the transaction, while RYRE acted for the purchaser. Osborne Clarke’s provided legal advice to Sheet Anchor
Howard said: “DLS had owned Station Road Industrial Estate for more than 40 years and sees them handing over this successful business asset to a major property investment group as the director looks to retire. The transaction was handled smoothly by our team. This wasn’t a straight forward transaction but the collaborative work between our team and the Osborne Clarke team ensured we achieved a successful deal seeing a well established industrial estate change hands with a secure future.”
Robin Bullas from CPP which acted as agents on the site, added: “CPP was delighted to have advised DLS on the successful sale of Station Lane, Chesterfield. This is a great example of how off-market opportunities continue to deliver strong outcomes for clients. Congratulations to everyone involved in bringing this transaction to a successful close.”
Will Helm, associate director of LCP UK, part of M Core, said: “This acquisition reflects our long-term approach to investment and adds a complementary asset and well-established industrial estate to our UK industrial portfolio. We’re looking forward to investing in the asset and working closely with occupiers over the long term.”
The established Station Lane Industrial Estate sits two miles north of Chesterfield town centre and benefits from excellent connectivity to the regional motorway network and key commercial centres across South Yorkshire, Derbyshire, and the Midlands.
MD Law’s commercial property team advises on all aspects of work including freehold and leasehold sales and acquisitions; landlord and tenant work; new lease and lease renewals for business owners, investors, individuals and partnerships. The firm also offers expert legal services in insolvency, dispute resolution, corporate, commercial and employment matters to its nationwide clients.
For further information contact MD Law on 0114 299 4890 or email info@mdlaw.co.uk
