Brunswick Park was purchased by Litton Properties in 2003. The 4 acre site was situated to the front of an established industrial estate and very close to the A1 and A19 on the northern edge of Newcastle.
The site consisted of a vacant high eaves warehouse of approx. 80,000 sqft, Litton secured planning consent for a break-up B1 scheme and undertook a major refurbishment splitting the property into individual units ranging in size from 3,800 sq.ft. to 19,480 sq.ft.
The property was 90% occupied with a further three acres of land available for development.
Prior to the sale Litton had recently let a 19,186 sq.ft. unit to Alliance Healthcare, the medical and healthcare distributor. Following this the decision was taken to put the property on the market and take advantage of the strong current demand for industrial investments.
Litton’s decision to sell the property was also prompted by Brunswick Park’s location which is outside the group’s core geographical area and also to provide funds for reinvestment in its current development pipeline.