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St Modwen acquires Wiltshire Manufacturing site

Redman Heenan Properties Ltd, the investment subsidiary of St Modwen Properties PLC, has acquired a ten-acre site comprising nearly 120,000 sq ft of manufacturing space and ancillary offices at Tisbury, Wiltshire, from one of the country’s longest established agricultural machinery manufacturers.

The previous owners, P J Parmiter & Sons Ltd, have taken a lease back on just over 50,000 sq ft of the space, adjacent to the rail station, to accommodate their medium term production plans.

St Modwen is to let and manage the remaining buildings while planning to maximise the future value of the site.

Charles Evans of St Modwen, said: “This deal facilitates Parmiter’s restructuring, and secures for us a large site with immediate income and future potential. It further demonstrates our ability to assist businesses in achieving beneficial property/business restructuring solutions to their sites.”

P J Parmiter & Sons Ltd was represented by Humberts. Kemp Pennington Ltd advised St Modwen.

For further information contact Charles Evans of St Modwen on 0207 499 5666. Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).