Shalam Packaging buys in Sunderland

The business has acquired a 100,000 sq ft unit at Hylton Riverside Business Park from Threadneedle, to use as a manufacturing facility.

Avison Young and Naylors Gavin Black represented Threadneedle Portfolio Services on the disposal of Unit 8, West Quay Court at the park.

The freehold property is described as a modern large industrial building with substantial offices and staff facilities as well as extensive secure yard areas.

The mixed-use business park accommodates industrial and office properties alongside retail and leisure outlets. Unit 8 extends to 99,049 sq ft. The sale price was undisclosed.

Danny Cramman, director at Avison Young, said: “This was a great instruction to be involved with, the sale will see the property brought back into use as a manufacturing facility creating high quality employment opportunities in the area”

NGB’s Keith Stewart added: “This was a great deal to get over the line in what is one of the largest transactions of 2024 so far.”