PPG Land and Amerdale have sold the whole of their joint industrial development at Centurion Park in Leyland, Lancashire.
The 17,500 sq ft Unit 1 of the scheme has been sold to Leyland Exports in a deal that breaks down to £60 per sq ft.
A second unit of 15,100 sq ft, which is let to Chorley and South Ribble NHS Trust on a 10-year lease, has been sold to an undisclosed buyer at a yield of 6.62%.
A final smaller unit of 3,850 sq ft has been sold to Leyland Service Centre at around £60 per sq ft.
PPG and Amerdale acquired the 2-acre brownfield site on which the scheme is located in September 2004 and developed the units speculatively.
The site was formerly the Leyland DAF trucks manufacturing plant.
Mark Hancock, chief executive of Amerdale, said: “As our first development project, Centurion Park presented us with a number of challenges.
“However, we could easily see the potential of the site and were excited by the opportunity afforded to us.”
Amerdale, established in 2003 under the guidance of former Teesland board director Hancock, has a portfolio worth £60m and plans to increase activities in northern England.
PPG has projects underway in London, Edinburgh and Yorkshire.
King Sturge acted on behalf of the developers.
References: EGi News 01/12/05
