Ward Group Investments acquires 35-acre County Durham I&L estate
The property company is now planning a major upgrade programme at the 35-acre Tursdale Business Park, located just off the A1 and five miles south of Durham city centre.
The established industrial estate is home to 35 tenants and comprises a mix of workshops, factory units, high-bay warehouses, and open storage land.
WGI is now planning a programme of investment aimed at upgrading the estate and enhancing its commercial offering.
Plans include targeted demolition and refurbishment works, alongside the introduction of new open storage space designed to meet demand from industrial and logistics occupiers.
The investment is intended to reposition Tursdale Business Park as a modern commercial estate capable of accommodating a broad range of businesses, and takes WGI’s industrial property portfolio to more than 1m sq ft.
Tursdale Business Park was marketed for offers in excess of £10m and was sold on behalf of vendor Eggerton, with Delta Capital Property Investment and Lewis & Partners acting as joint agents on the sale.
Andrew Ward, chief executive at Ward Group Investments, commented: “Tursdale has all the ingredients of a highly successful modern industrial estate – a strong location, an established occupier base and excellent access to the A1.
“What it needs now is investment, ambition and a clear long-term vision. We’re committing to all three and to establishing a dedicated, brand-new, operating company for Tursdale – giving the estate a clear identity and a focused management team with responsibility for driving its next phase of growth.
“Our plans go well beyond simply upgrading the existing buildings. We will invest in the estate, broaden its offer, introduce new facilities and create a modern, well-managed destination for industrial and commercial occupiers across the region.
“Reaching 1m sq ft in our industrial portfolio is a significant milestone for WGI and Tursdale represents an important step in the next phase of our growth. We see a real opportunity to establish Tursdale as one of the North East’s leading industrial locations.”
