Smeeton and Dixon Consultancy has completed the acquisition of a 67,828 sq ft industrial and logistics unit in Newcastle-under-Lyme, on behalf of Hortons’ Estate Ltd. 

The independent property company plans to invest in the refurbishment of the building, which is located on the well established Lymedale Business Park, off Dalewood Road in North Staffordshire.

The unit was formerly home to global technology solutions company, Avnet which moved its operations to one of its existing sites in Tongeren, Belgium citing uncertainties around Brexit.

Lymedale Business Park is an established industrial park of c.75 acres which lies one mile north of Newcastle-under-Lyme and is adjacent to the A34, providing access to junctions 15 and 16 of the M6 motorway to the south and north.

It is home to a number of major occupiers including TK Maxx, New Look and Asda.

David Smeeton, Director of Smeeton and Dixon Consultancy, said: “We are delighted to have represented Hortons’ on the acquisition of this high quality warehouse unit, which provides an excellent ‘value add’ opportunity.”

Jeremy Boothroyd, management surveyor, Hortons’ said: “We are pleased to have acquired a building in such a prominent location, which adds to our growing property portfolio. We are also delighted to have secured an investment in a sector that has continued to perform strongly throughout the challenges of the last 12 months.”