A property investment and asset management firm has bolstered its portfolio with a trade hub deal.
Ward Group Investments has bought Tursdale Business Park, in County Durham.
Bosses say the operator will carry out a “significant programme of investment” at the 35-acre site, which will “enhance its commercial offer and improve estate management”.
They add the venture will include a “programme of targeted demolition, refurbishment and the introduction of open storage…to meet the needs of a broad range of industrial and logistics occupiers”.
Based off the A1 near Durham City, Tursdale Business Park – which officials say has taken Ward Group Investments’ industrial property portfolio beyond the one million square foot mark – is home to 35 tenants and includes workshops, factory units and high-bay warehouses.
Andrew Ward, chief executive at Ward Group Investments, which is based at Pity Me, near Durham City, said: “Tursdale has all the ingredients of a highly successful modern industrial estate.
“What it needs now is investment, ambition and a clear long-term vision.
“We’re committing to all three, and to establishing a dedicated operating company for Tursdale.”
He added: “Our plans go well beyond upgrading the existing buildings.
“We will invest in the estate, broaden its offer, introduce new facilities and create a modern, well-managed destination for industrial and commercial occupiers across the region.
“We see a real opportunity to establish Tursdale as one of the North East’s leading industrial locations.”
The site was sold by joint agents Delta Capital Property Investment and Lewis & Partners on behalf of vendor Eggerton Limited.
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