Harrison Drury helps PJM Property Investments Group acquire three new sites

Harrison Drury’s commercial property team has helped an acquisitive property investment group to acquire three new properties in Central Lancashire.

PJM Property Investments Ltd has acquired Cuerden Green Mill in Lostock Hall and units 1-4 Charnley Fold Lane in Bamber Bridge, while one of its group companies M M Acquisitions Ltd has acquired Gaskell House in Rough Hey Road, Preston.

Cuerden Green Mill, pictured below, is a 32,000 sq ft industrial premises at Sherdley Road Industrial Estate. The currently vacant property is being refurbished before being re-let.

The property at Charnley Fold Lane, off School Lane, Bamber Bridge features a mix of commercial units. PJM plans to work with existing occupiers to reorganise and refurbish the site (below) and attract new businesses.

Gaskell House (below), situated at 45-49 Rough Hey Road, is a 56,000 sq ft property comprising a warehouse, large yard, and newly refurbished office facility.

Harrison Drury advised the PJM group on all three transactions. Mark Clarkson at Eckersley acted as agent in respect of Cuerden Green Mill and Charnley Fold Lane properties and has been retained by the PJM group on all three sites.

Simon England, partner and head of the commercial property team, said: “We’re pleased to have supported the PJM group in completing these deals in what has proven to be a very competitive investment market for good industrial opportunities.

“There were some fairly complex elements to these deals including conditional and contractual issues as well as some guidance around tax planning. We’re pleased to have supported Patrick and his advisory team to get these multi-million-pound deals over the line.”

Patrick Murphy, director of the purchasing group, said: “The demand for good warehouse space high. Our model is based on acquiring, adapting, and modernising commercial properties to make them attractive to new occupiers. All three of these properties will help us support the Lancashire economy by providing viable spaces for growing businesses in thriving locations.”

Patrick added: “I’m thankful to the team at Harrison Drury who provided invaluable support and advice for all three of these purchases. Their technical knowledge and commercial awareness helped us to complete these deals in a timeframe that matched our requirements.”

PJM Property Investments also owns properties including 1 Aston Way at Moss Side Business Park Leyland and Earle Road Business Park in Widnes. M M Acquisitions Ltd operates as a commercial vehicle specialist selling and leasing trucks and other heavy vehicles.

Photos courtesy of Eckersley