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ST. MODWEN COMPLETES SALE OF INTERCHANGE INDUSTRIAL ESTATE, HELLABY

St. Modwen, the UK’s leading regeneration specialist, has completed the sale of Interchange on Hellaby Industrial Estate Rotherham, adjacent to Junction 1 of the M18. The property, which comprises two detached industrial units totalling over 38,500 sq ft, has been sold to Pyronix, manufacturers of security equipment and reflects a net initial yield of 7.4%.

Prior to the sale, St. Modwen owned and managed the site for four years. Pyronix will expand their existing operation in Hellaby in to one of the units whilst the other unit continues to be occupied by Transglobal Freight Management.

Rob Richardson, Asset and Development Manager at St. Modwen said: “On first meeting Pyronix to discuss their need for additional space we soon identified their desire to purchase their own property and to remain in the area. We were originally marketing the vacant unit to lease but worked closely with Pyronix to facilitate the sale of the entire site and thus support the growth of this successful company in Rotherham.”

Julie Kenny, Chief Executive at Pyronix said: “We chose to acquire Interchange Industrial Estate due to the site’s excellent location and high quality offer. St. Modwen’s flexible and straightforward approach has ensured a smooth transaction from start to finish and we look forward to expanding our business in Hellaby.”