Rotherhill has successfully completed the acquisition of a freehold, multi-let mixed-use investment on Carrwood Road, Chesterfield, with the support of its long-standing joint venture partner, DCS 452 Ltd.
The property comprises three industrial units and a detached office building within the well-established Chesterfield Trading Estate approximately three miles north of Chesterfield town centre.
The industrial units extend from approximately 5,000 sq ft to 24,000 sq ft and are currently let in their entirety to Simona Peak Pipe Systems Limited, specialist manufacturers of PE pipes and fittings.
The industrial units provide high specification manufacturing and warehouse accommodation, with generous external service yards, and offer the ability for future subdivision, if required. In recent years the buildings have benefitted from newly installed cladding and roofs, future proofing the asset.
Alongside the industrial units is a modern, high specification three-storey office building that was constructed in 2013. The building is let in its entirety to Control Point Limited who form part of Ovarro Group, a subsidiary of Indicor, who specialise in the measurement, monitoring and supply of control devices for the utilities industry. The office provides a mix of cellular and open-plan accommodation, including dedicated laboratory space and roof-mounted solar panels.
The site has excellent connectivity, situated close to the A61 Dronfield Bypass, approximately seven miles from Sheffield city centre and within easy reach of Junctions 29 and 30 of the M1.
Carrwood Road is an established and sought-after location for high-skilled engineering and manufacturing occupiers, particularly within the pipe and utilities sector.
Ed Jeffrey, Director of Rotherhill, comments:
“This acquisition reflects Rotherhill’s strategy of targeting well-located assets with good underlying fundamentals and that present the opportunity for value creation. It’s our intention to implement a proactive asset management strategy, engaging with the existing occupiers to understand, and work with them to meet, their long-term requirements.
If necessary, in the future, the configuration of the buildings provide flexibility to deliver a range of outcomes.”
Will Torr, Partner, heb Surveyors, comments:
“We are delighted to have secured this mixed-use industrial and office investment in Chesterfield on behalf of Rotherhill. The opportunity was acquired off-market, and it was a pleasure to work with Craig Straw of Innes England, who acted on behalf of the vendors. We look forward to working with Rotherhill as they engage with the well-established occupiers to implement their asset management strategies.”
