Member Article

CPP advise on sale of £3.5 million warehouse in Barnsley

The award-winning Sheffield-based property agency Commercial Property Partners (CPP) has advised on the sale of an 88,480 sq ft distribution warehouse with offices in Barnsley for £3.5 million.

CPP agreed the sale within less than four weeks of the building at Meadow Gate, Valley Park Estate, going on the market.

CPP were instructed as sole selling agents by Sematic UK, a leading manufacturer and supplier of elevator components.

The property has been bought by Crescent Pharma, a pharmaceutical distribution business.

Toby Vernon, partner with CPP, commented: “We received significant interest in the building from a number of parties as soon as it went to the market. That demonstrates the strong demand from owner occupiers for good quality, modern buildings and the shortage of available stock.

“We managed to negotiate the sale to Crescent Pharma quickly who were keen to secure the building in light of the other interest,” he added.

Steve Brunton, Managing Director of Sematic UK, commented: “We are delighted to have secured a sale of the property so quickly and the speed at which CPP attracted interest was impressive. This is a very high quality building and we are sure that it will serve Crescent Pharma well”.

Mr Vernon explained: “These are exciting times for South Yorkshire’s commercial property market.

“It is apparent that the dark days of the recession are now behind us and we are seeing very encouraging signs of recovery within the South Yorkshire property market. Both occupier and investor activity have improved significantly and shortage of good quality property stock is now becoming a real issue,” he added.

This was posted in Bdaily's Members' News section by Robert Beaumont .