Westcore Europe, with Dubai-based investor 3S Capital, has bought the 324,000 sq ft Bretby Business Park in Burton on Trent, Derbyshire for £23.5m.
The 30-acre business park, which is home to around 60 occupiers across 23 buildings, had been owned by Centurion Properties in a joint venture with TIAA Henderson Real Estate until 2015 when it was sold to a private investment group.
Westcore Europe plans to upgrade the business park, selectively refurbish and relet vacant units, while pursuing development angles across the site.
Founder and chairman Marc Brutten said: “This asset offers a high-quality income stream from the existing tenants, most of which have operated at Bretby for at least 15 years. It also provides several opportunities to improve the business park over time and provide existing and new tenants with the space to fit their needs.”
Since its development in the late 1960s, the site has served as a research and development facility for the National Coal Board. It is also home to life science companies Socotec and Surepharm Services and specialty metal component manufacturer and designer Hi-Tech Fabrication.
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