Ward Group Investments (WGI) has acquired the 35-acre Tursdale Business Park in County Durham.
Tursdale Business Park in County Durham
Located just off the A1 at Tursdale, five miles south of Durham, the established industrial estate is home to 35 tenants and provides a diverse mix of workshops, factory units, high-bay warehouses and open storage land.
WGI plans to transform the estate through a programme of targeted demolition, refurbishment and the introduction of new market-leading open storage.
The acquisition takes WGI’s industrial property portfolio to over 1m sq ft, strengthening its presence in the North East.
The site, which was marketed for offers over £10m, was sold by joint agents Delta Capital Property Investment and Lewis & Partners on behalf of vendor Eggerton.
Andrew Ward, chief executive of WGI, said: “Tursdale has all the ingredients of a highly successful modern industrial estate: a strong location, an established occupier base and excellent access to the A1.
“What it needs now is investment, ambition and a clear long-term vision. We’re committing to all three and to establishing a dedicated, brand-new operating company for Tursdale, giving the estate a clear identity and a focused management team with responsibility for driving its next phase of growth.
“Our plans go well beyond simply 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.”