Former print provider Prinovis has sold a printing facility and land in Liverpool to GB Europe for an undisclosed sum.
CBRE acted on behalf of Prinovis to sell the freehold interest of the 627,217 square-foot former printing facility, which occupies a 50-acre site at Estuary Business Park in Speke. The site also has further expansion land of nearly 27 acres.
Property investment company GB Europe can either use the existing building or develop a logistics unit of up to approximately one million square feet. Details of future use are to be confirmed later.
CBRE’s Industrial & Logistics and Office Agency teams were appointed in March 2023 to sell the facility and, following a competitive bidding process, completed the transaction within five weeks of agreeing terms.
Estuary Business Park is recognised in the North West and beyond as Liverpool City Region’s premier location for manufacturing and logistics.
Neil Kirkham, Senior Director at CBRE says, “Having received a significant amount of interest in this site, we are delighted to have concluded this transaction in a five-week period, a real accomplishment in the current market. The site has been so widely courted due to its strong location and redevelopment potential, and we look forward to seeing it come to fruition in the coming years.”
Darren Hill, Director at CBRE says, “With buildings extending to 630,000 sq ft on a site of 50 acres, this sale represents one of the region’s largest transactions in recent years. Due to the constrained supply of sites of this nature, this was a real market test, and the level of interest we received illustrates the continued strength of the industrial and logistics sector in the North West.”
