A Midlands-based property developer has expanded its portfolio after buying an industrial unit in Daventry.
Rotherhill, alongside funding partners DCS 452 Limited and Nowell Spring Group Limited, has purchased a 10,000sq ft unit on Drayton Fields Industrial Estate from a private pension fund.
Bosses say the site, which has strong transport links, will now undergo a full refurbishment, including a roof re-coating, new heating and lighting, as well as an upgraded energy performance rating, to create a “best-in-class facility with a view to securing a long-term tenant or sale of the freehold interest to an owner occupier”.
Stuart Waite, associate director of Rotherhill, said: “We are pleased to have completed the acquisition of this property on what is a well-established industrial estate in a location with very limited supply within this particular size range.
“We will shortly be carrying out a comprehensive refurbishment of the premises.
“We are targeting completion of the refurbishment works by the end of July 2025.”
Paul Bagshaw, owner and founder of Rotherhill Developments, added: “This acquisition is exactly the type of opportunity we’re interested in and one where we can add value by investing in a refurbishment programme to modernise the premises.
“We continue to target existing buildings with strong fundamentals, either with short income or vacant possession, where we can utilise our expertise in building refurbishment to create high quality product at a discount to new build.”
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