Adhan Group Acquire 1.3m sq ft of Industrial Space During COVID-19 Lockdown
03 July 2020
Acting on behalf of NW property company Adhan Group, Ryden Manchester has acquired three substantial industrial complexes during lockdown in Burnley, Hull and Sudbury, Suffolk. The three complexes total over 1.3 million sft on 54 acres and offer tremendous scope to add value in the short term.
- 677,000 sq ft on 24 acres in Hull
A former bathroom manufacturing complex of over 650,000 sq ft on 24 acres with the benefit of a leaseback of the Head office at the front of the site.
The site will be comprehensively refurbished and broken into industrial/warehouse units of varying sizes.
- 250,000 sq ft HQ warehouse investment in Burnley
An investment let to The Factory Shop Limited being their national distribution warehouse comprising over 250,000 sq ft.
This will be held as a long term investment.
- 350,000 sq ft on 23 acres in Sudbury (exchanged in 48 hours completed in 9 days)
A largely vacant former Diesel Engine Manufacturing complex comprising over 350,000 sft on 23 acres
This building exchanged within 48 hours of being placed under offer with completion 1 week later. The site will be comprehensively refurbished to offer industrial/warehouse units of varying sizes.
Adhan Group are a very successful and rapidly growing property company and will commence a comprehensive refurbishment programme immediately. The portfolio comprises of many million sq ft and they are keen to buy more with the ability to perform quickly. Two further deals are close to completion.
