A former warehouse and transport depot in Gloucestershire is to be transformed into a business park, after property consultancy Bruton Knowles secured its sale to two investors.
The 12.46-acre site in Longhope has been sold to Dr Roger Head 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.
Located 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 has outline planning consent for commercial uses. The site 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 added: “As local investors, we saw the potential of the site, and intend to start as soon as possible on what will be a multimillion-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 director Grant Ruddy who joins Head Ruddy Ltd after 15 years’ experience with Barnwood Construction.