Riverside business park with redevelopment potential comes onto market

July 30, 2014
By

Melksham’s Avonside Enterprise Park has been put up for sale for £2.75m with the property agents marketing it saying the new owner could take advantage of major redevelopment opportunities.

The mixed-use scheme includes retail, office, industrial and warehouse space covering 87,000 sq ft of floor space on the 2.54-acre former Unigate Dairy site close to the town centre.

There are a number of existing tenants and redevelopment potential, subject to planning approval, for retail, trade counter and residential use.

But joint agents Lambert Smith Hampton (LSH) and Michael Rogers are stressing that, should plans by Wiltshire and Berkshire Canal Trust to extend the canal from Seamington to the River Avon come to fruition, then new opportunities will open up.

LSH’s Bristol office head Darren Sheward, said the plans, which would connect Melksham via the canal to Abingdon and the River Thames, could also prove attractive to a potential buyer.

“The estate already has a very loyal tenant base and a good spread of income from across a wide range of occupiers,” he said.

“But should these exciting plans be approved, then the re-opening of the canal will bring myriad opportunities for new cafes and restaurants in the town and this is something that the new purchaser of Avonside Enterprise Park could take full advantage of.”

Niall Christian of Surrey and Kent-based Michael Rogers added: “This represents a very attractive commercial asset for an investor seeking a strong income return and potential for capital growth.”

The site is being sold by London-based pension company EBS Management, part of Charles Stanley Group. It has three blocks – the main one arranged in an L-shape over three and four storeys and divided into retail, light industrial and storage units.

The single-storey second block includes retail, leisure and storage occupiers, while the third is home to leisure and light industry occupiers. There are also two detached single-storey buildings next to the River Avon. The main property was built in the 19th century and was occupied by Unigate until 1969.

Property consultancy Kavanaghs was recently appointed by EBS Management to manage the site.

 

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