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Sunday, July 21, 2024

Burnley Bridge South acquisition set to boost jobs and investment

Eshton Group has completed a deal for an undisclosed sum that will secure an estimated 900 jobs for the Burnley area after selling its Burnley Bridge South site to Monte Blackburn.

The deal follows the Yorkshire-based property developer’s successful planning application for the 32-acre brownfield site, with Burnley Borough Council approving construction of a further 500,000 sq ft of industrial and warehousing space.

The development will be phase 3 of the successful Burnley Bridge Business Park scheme, and the site is the second plot to be purchased by Monte Blackburn, following the company’s acquisition of the 10-acre Titanium Park in 2021. The new owners will develop a mix of built-to-order and speculative units at the site, with an estimated gross development value (GDV) of over £50million, and the potential to attract new companies, new customers for existing local businesses, and new jobs.

The new development is expected to be just as popular as phases 1 and 2 at Burnley Bridge Business Park, which saw Eshton develop 60-acres located at Junction 9 of the M65. Together, the first two phases have already supported the creation of c.1,000 jobs and delivered in excess of £60million in inward investment.

Eshton MD James Chapman commented: “Over the past decade, the site that is now Burnley Bridge Business Park has been transformed from a vacant brownfield plot into a sought after location for industrial and logistics businesses, with excellent transport links, a rich network of supply chain partners and a skilled local workforce.

“The sale of this third phase to a local company that has a proven track record in delivering quality accommodation and attracting a great mix of occupiers continues that legacy of sustainable investment and business growth, which is great for jobs, great for local businesses and an ideal catalyst for further investment and growth.”

Alex Kenwright at Monte Blackburn Ltd said: “We are delighted to be working with Eshton again and looking forward to delivering this scheme to the occupier market, which remains strong in this area of Lancashire.”

Eshton was advised by Michael Cavannagh of Trevor Dawson and Mike Rooney of Avison Young. Monte Blackburn has retained Trevor Dawson as the selling agent.



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