A former warehouse and transport depot in Longhope, Gloucestershire will be transformed into a leading business Park, after Bruton Knowles secured its sale to two well-known local investors.
The national property consultancy, which has its head office in Gloucester, sold the 12.46-acre site to the two local investors - Dr Roger Head OBE and Jim Ruddy. Previously the home to Richard Read Transport, the site had been used as a strategic warehouse and distribution site for more than 60 years.
Set in a prime location on the A4136, 14 miles from the M5 and seven miles from the M50, the site includes 70,000 sq ft of warehousing and industrial units and office space, along with large areas of hardstanding and parking. The new owners are also set to benefit from 5.32 acres of expansion land which already has outline planning consent for commercial uses. The site also includes a detached three storey, five-bedroom residential property.
Associate, Robert Smith is based within Bruton Knowles’ Gloucester office. He said: “We are delighted to have co-ordinated the sale of the former Richard Read depot. Our commercial property team utilised its invaluable knowledge and experience to secure a sale in a short timeframe, while ensuring a smooth process for all parties involved.
“The former owners wish the purchasers every success for the future with their plans for the property. The site has huge potential and with Roger Head and Jim Ruddy at its helm, it has a very exciting future ahead becoming a new business park.”
Roger Head and Jim Ruddy commented: “As local investors, we saw the potential of the site, and intend to start as soon as possible on what will be a multi-million pound refurbishment. We will be offering refurbished and new units from 1,500 sq ft upwards, we already own a number of industrial estates and are pleased to add this to our portfolio.”
To be renamed Longhope Business Park, the project is to be headed up by Company Director, Grant Ruddy who joins Head Ruddy Ltd after 15 years’ experience with Barnwood Construction.
Bruton Knowles is an independently-owned national property consultancy with 13 offices across the UK. Its large multi-disciplinary team is highly experienced in sale and purchase, valuation, leasing and strategy across commercial, rural and urban property, and has specialist expertise in utilities, public sector and social housing.