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Northamptonshire based commercial agent Prop-Search continues to expand its regional market activity, acting for a major client, Prodrive - one of the world’s largest motorsport and technology businesses - in the disposal of a substantial production facility in Banbury.
The detached property - known as the Hella Building - is located just off the A423 Southam Road, offering a highly visible location and with easy access to the M40 motorway at Junction 11. It comprises 186,950 sq ft of production/distribution accommodation, incorporating well specified integral offices and staff facilities, and stands within a secure site of some 25 acres and includes substantial car parking and further expansion land.
Following a successful planning application, Stratford-upon-Avon based DCS Group has completed its purchase of the vacant building for an undisclosed figure although the asking price was £9 million. DCS, which is the official UK sales and distribution company for leading household and beauty brands, employs some 229 staff and will be looking to recruit additional new jobs from the Banbury area to service the new facility.
David Richards, Chairman of Prodrive, said: “We originally purchased the Hella building to be the new Prodrive Headquarters due to its versatility and the additional expansion land. However, following some changes in our business strategy, it was a little too large for our requirements and we progressed a purpose-built locally. I am sure that DCS will be a great asset to the area, creating new jobs for the local economy.”
Ian Harman, a Director of Prop-Search, added: “The experience and skills developed from nearly 30 years of occupier work in Northamptonshire has opened up opportunities for us across the wider area. It is exciting to act for such high profile major employers as Prodrive and this significant sale follows on from the disposal of 200 acres at Kenilworth to Jaguar Land Rover and the lease of a new building of 114,000 sq ft in Banbury, again both for Prodrive”.
For further information, please contact Ian Harman or Richard Baker on Prop-Search, Northampton on 01604 492000.