Monday, May 29, 2023

Scunthorpe Business Centre snapped up in £14m acquisition run

Scunthorpe’s Queensway Business Centre has been bought by property investment and development company, Hurstwood Holdings.

Previously owned by Dean Property Group, the recently Refurbished Business Centre in Scunthorpe boasts 20,820 sq ft comprising 33 offices from 168 sq ft.

Hurstwood Holdings has added the hub to its portfolio as part of a recent £14 million acquisition run in recent weeks, taking its total spend on new properties this year to £35m.

The £14m acqusition spree also included Six modern warehouses totalling 15,037 sq ft in Peterborough, a 16,409 sq ft multi-let office building on Museum Street in Ipswich, six warehouse units in Aberdeen, a 30,656 sq ft industrial building in Stockton-on-Tees and a  two-storey modern office building totalling 78,577 sq ft, in North Shields.

Stephen Ashworth, Chairman and CEO of Hurstwood Holdings, says: “So far this year, we have acquired 15 new properties with a total investment value of over £35 million. We are always on the lookout for unique opportunities to boost our portfolio from fully occupied buildings to ones where we can capitalise on our in-house team’s expertise and add value. Whilst we are a North West based business, we are significantly increasing our presence nationally with properties in England, Scotland and Wales, spanning from Inverness to Ipswich. We have the experience and skills in house to manage large commercial investments having grown organically over the last 30 years which has helped shape the future of the business. Our focus is to buy property well and use our skills and efficiency of service to provide value and quality of space for our occupiers large and small and for all aspects of commercial uses.”

The buildings were all sold for an undisclosed figure by auction or private treaty. Together provided the funding for each of the purchases.


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