SPECIALIST drive systems manufacturer SEW Eurodrive has sold its former factory to a sign manufacturer after securing a deal off an asking price of £1.25m.
The German-owned company moved out of its building off Ripley Drive on Normanton Industrial Estate in Wakefield after commissioning a new purpose-built factory.
It acquired the new 10-acre site, off Devilliers Way on the same industrial estate, in 2009 and after securing planning permission, it built a new 100,000 sq ft manufacturing and office building.
The company has now sold the freehold interest of its former 71,762 sq ft factory to Ashleigh Signs.
The price paid is undisclosed but the property was offered for sale freehold with vacant possession at a quoted price of £1.25m.
Ashleigh Signs, which was founded over 25 years ago and employs over 100 people, designs and manufactures internal and external signs primarily for the retail and leisure sectors in the UK and abroad.
Industrial agent Gent Visick, based in Leeds, acquired the new site for relocation and also found a buyer for the old site.
The deal was concluded in four weeks after a previous sale of the building fell through at the last minute.
Tony Sadler of Ashleigh Signs said “We had been looking for new premises to support the expansion of our business for some time and we were delighted to hear from Gent Visick that the property was available.
“We were able to agree a deal quickly and are looking forward to getting into production at the new facility shortly”.
Rupert Visick, from Gent Visick, added: “We were delighted to be able to assist SEW Eurodrive in their relocation to Trident Park and to have been able to sell their former site to another manufacturing company, thereby securing the continued manufacturing use of the property for the foreseeable future”.