Preston property group swoops for three commercial sites in multi-million pound deal

JM Property Investments has added the sites in Lostock Hall, Bamber Bridge and Preston to its portfolio of business premises for an undisclosed sum.

The group has acquired Cuerden Green Mill in Lostock Hall and four units in Charnley Fold Lane in Bamber Bridge, while one of its associated companies, M M Acquisitions, has snapped up Gaskell House in Rough Hey Road, Ribbleton.

“The demand for good warehouse space is high," said director Patrick Murphy.

"Our model is based on acquiring, adapting, and modernising commercial properties to make them attractive to new occupiers.

"All three of these properties will help us support the Lancashire economy by providing viable spaces for growing businesses in thriving locations.”

Cuerden Green Mill is a 32,000 sq ft industrial property at Sherdley Road Industrial Estate. The currently vacant property is being refurbished before being re-let.

The property at Charnley Fold Lane, off School Lane, features a mix of commercial units. PJM plans to work with existing occupiers to reorganise and refurbish the site and attract new businesses.

Gaskell House is a 56,000 sq ft property comprising a warehouse, large yard and newly refurbished office facility.

Simon England, partner and head of the commercial property team at Harrison Drury, who advised the group on the acquisitions, said: “We’re pleased to have supported the PJM group in completing these deals in what has proven to be a very competitive investment market for good industrial opportunities.

“There were some fairly complex elements to these deals including conditional and contractual issues as well as some guidance around tax planning. We’re pleased to have supported Patrick and his advisory team to get these multi-million-pound deals over the line.”

Cuerden Green Mill, formerly known as Bamber Bridge Mill and Woodcock Hall Mill, was built in 1783 by William Winstanley.

PJM Property Investments also owns properties including Aston Way at Moss Side Business Park, Leyland and Earle Road Business Park in Widnes.

M M Acquisitions Ltd operates as a commercial vehicle specialist, selling and leasing trucks and other heavy vehicles.