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Sunday, July 21, 2024

Alliance expands industrial portfolio with £1.3m acquisition

Property Alliance Group has acquired a 32,166 sq ft industrial unit in Blackpool for £1.3m.

Located adjacent to Blackpool Retail Park and to the south of the town centre, off Squires Gate Lane, the property comprises a ground floor warehouse with offices above.

The deal will see Alliance invest a further £250,000 into refurbishing the unit, resulting in upgrades to both the interior and exterior. A larger, open plan area will be created inside the building and a secure fence, gates and LED lighting installed outside. Alliance will also carry out extensive improvements to the 1.1 acre yard.

Ian Hunter, director at Property Alliance Group, said: “This property was formerly occupied by Booker and following our investment, will be significantly improved with a warehouse suitable for a variety of uses.

“Forming part of the Blackpool Airport Enterprise Zone and around two miles from the M55, the unit is situated in a thriving area. We’re confident that its location coupled with the quality of our refurbishment will result in a swift letting.

“This is our first acquisition in Blackpool and with the Enterprise Zone rapidly developing, we’re seeking opportunities for further investments in the year ahead.”

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