A FORMER vehicle motor auctions site in South Yorkshire has been sold in a £1.8m deal.
The freehold of two industrial buildings at Canklow Meadows Industrial Estate, West Bawtry Road in Rotherham, previously the base of Manheim Motor Auctions which closed last year, have been sold for £1.855m.
The 62,913 sq ft buildings were acquired by Sheffield-based industrial fasteners and civil engineering business, Cooper & Turner. The Leeds offices of Jones Lang LaSalle and GVA acted for Cluttons Investment Management, London, representing vendors Harmsworth Pooled Pension Fund.
Richard Harris, head of the industrial and logistics team at Jones Lang LaSalle, said: “In spite of uncertain economic times and a shortage of funding in the property market, this is a manufacturing business which is trading successfully as it was able to fulfil the freehold acquisition out of its own funds. Manufacturing businesses, and particularly those which export, clearly need to be supported as part of moves to re-balance the UK economy.”