Oxenwood Real Estate and Mulberry Developments has sold a 75,500 sq ft warehouse in Devon to transport, warehousing and distribution specialist Gregory Distribution.
Gregory Distribution will move into the warehouse when refurbishment works are completed in early autumn.
The warehouse is part of the 390,000 sq ft former British Ceramic Tile factory, which Oxenwood and Mulberry bought out of administration in September last year. The former factory is being split into three or four units to form PowerPark 38.
JLL advised the joint venture on the sale.
Stewart Little, co-founder of Oxenwood, said: “Our strategy is to provide mid-box units in to the South West market for owner-occupiers. Historically, owner occupation has been a strong component of take-up in the region.
“The combination of the modern specification, plus the availability of high power, has created good demand, which we are progressing in tandem with the refurbishment”.
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