Entirely Property

NORTHWEST PROPERTY NEWS

Friday May 24 2019


Bolton property firm sells six figure asset ahead of redevelopment plans




Bolton property firm sells six figure asset ahead of redevelopment plans

Bolton-based commercial property investors Millfield Estates has sold its last remaining retail property in Bolton town centre in a £625,000 deal with a Chinese investor. The sale of the three-storey retail and office building, known as Moorland House, comes after Bolton Council announced an ambitious regeneration plan to reorient the focus of the town centre.

 

Prominently positioned on Knowsley Street, opposite The Market Place Shopping Centre, the 15,625 sq ft retail building currently offers a mix of large open plan showrooms with individual retail units and office suites. As a well-established shopping destination, the property has attracted tenants such as Brand Interiors, Wed2b, Hidden Hearing, Optical Express and Box Power.

 

Following the sale of Moorland House, Millfield Estates plans to re-invest the funds from the sale into expanding its industrial and warehouse portfolio. The firm, which retains a further five Bolton-based properties, has a UK wide portfolio in locations such as Nottingham, Liverpool, London, Northwich and Northumberland.

 

Commenting on the news, Paul Dobson, property director of Millfield Estates, said:

 

“As a Bolton-based firm, Moorland House has been a central feature of Millfield Estates’ portfolio for almost thirty years but we felt the time was right to pass on this prestigious building. The new owners will be able to build on its strong heritage within the exciting local authority-driven plans for the town and we wish them well.

 

“We are always looking for new opportunities to expand our portfolio and we intend to reinvest the funds released from the sale into new projects of our own.”

 

The new owners of the property will now take on the management of all the current tenants, with the transfer of the pre-existing lease agreements.

 

A representative of the investor, said:

 

“It is clear that Bolton’s town centre will massively benefit from all of the redevelopment plans coming up, so we thought this would be the perfect time to invest. This acquisition is one of our first commercial ventures in Bolton and the team at Millfield Estates have made the transaction seamless. We look forward to working with all of the established tenants at Moorland House.”

 

Bolton’s town centre and retail offer is set to undergo several major developments in the coming months after Bolton Council announced a £1bn regeneration masterplan.



"As a Bolton-based firm, Moorland House has been a central feature of Millfield Estates portfolio for almost thirty years but we felt the time was right to pass on this prestigious building. "
Paul Dobson








DISCLAIMER: The statements, opinions, views and advice expressed in this article are those of the author/organisation and not of ENTIRELY. This article should represent information correct at the time of publication however whilst every care has been taken to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. ENTIRELY will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article or any information accessed through this site. The content of any organisations websites which you link to from ENTIRELY are entirely out of the control of ENTIRELY, and you proceed at your own risk. These links are provided purely for your convenience and do not imply any endorsement of or association with any products, services, content, information or materials offered by or accessible to you at the organisations site.






Discover our Industry Magazines
















Discover our UK Regional Magazines


North West Business News, Jobs and Events | Entirely North West UK
East of England Business News, Jobs and Events | Entirely East England UK
Ireland Business News, Jobs and Events | Entirely Ireland
London Business News, Jobs and Events | Entirely London UK
Midlands Business News, Jobs and Events | Entirely Midlands UK
North East Business News, Jobs and Events | Entirely North East UK
Scotland Business News, Jobs and Events | Entirely Scotland
South East Business News, Jobs and Events | Entirely South East UK
South West Business News, Jobs and Events | Entirely South West UK
Wales Business News, Jobs and Events | Entirely Wales
Yorkshire Business News, Jobs and Events | Entirely Yorkshire UK


CRE Property & Construction Consultants


CRE are a team of Chartered Building Surveyors and Project Management Consultants that operate across the United Kingdom. CRE offers customers a new and refreshing approach to commercial property and project advisory services.






Sovini Group

housing


The Sovini Group comprises both not-for-profit, and commercial enterprises, and its purpose is to bring together complementary organisations which have similar values and aspirations in both the not-for-profit and commercial sectors.






One Vision Housing

Housing association


One Vision Housing is a Registered Provider of Social Housing with approximately 13,000 homes across Sefton, Liverpool and Wirral.We were formed in October 2006, following a successful stock transfer from Sefton Council and are a not-for-profit organisation, regulated by the Homes and Communities Agency.One Vision Housing is part of the Sovini Group which was formed in December 2011.






Pine Court Housing Association

Housing Association


Pine Court Housing Association is a registered social landlord providing over 450 quality affordable homes in Liverpool and Wirral.Formed in 1986, Pine Court Housing was originally established to provide quality homes and housing services for those in need, with a specific focus on the Chinese and South East Asian communities.






Intelligent

Business Sale Experts


Intelligent is unrivalled in the sale and purchase of privately owned SMEs such as Convenience Stores and Hotels, whilst Intelligent Corporate focuses on owner operated companies valued from 0.5million to 10million. The operational business is divided into key sectors, offering market leading advice for both buyers and sellers. Intelligent have developed their business through using bespoke, market leading technology and employing a dedicated, professional team.






RECOMMENDED FOR YOU ON ENTIRELY NORTH WEST