Peterlee factory sold for £2m
The 56,000 sq ft former PLG Glass manufacturing facility, which sits on a three-acre site, has been sold by Brownhills.
Consultancy Naylors Gavin Black secured the sale for Brownhills, with HTA representing the buyer, a private investor.
The new owner plans to carry out some refurbishment to the property and look to find a tenant to lease the building.
The manufacturing unit was put up for sale or lease following PLG’s decision to close the factory and consolidate its operations in Walsall. The firm was established in 1977 as Peterlee Glass Company, and makes architectural glass for a national client base, with clients including Fenwick and TK Maxx.
PLG had carried out a refurbishment in 2016 at the site, which has its own sub-station. There is a two-story office with staff amenities, a spacious yard, and ample parking.
Keith Stewart, partner at Naylors Gavin Black, brokered the deal. He said: “This sale is testament to Peterlee’s high economic potential. The area is ripe for investment, with a number of successful and innovative companies located in the area.
“The property’s prominent location and size make it an appreciating asset and an appealing prospect for businesses seeking an industrial space to meet their operational needs.
“In terms of a potential new tenant – the building was specified for the energy-intense production of glass and features an upgraded power supply, making it ideal for manufacturers but it could suit a wide range of purposes, both industrial and commercial.”
