Former Sutton industrial site sells for £4.32million

The freehold of the former Crystal Martin site in Kirkby Road in Sutton-In-Ashfield, was sold to Ivygrove Developments Ltd.

Friday, 15th May 2020, 3:06 pm
The freehold of the former Crystal Martin site in Kirkby Road was sold to an investor.

Set across 11.54 acres, the manufacturing facility comprises 216,347 square feet of industrial/warehouse and office accommodation.

Following the acquisition, the Derby-based commercial property investment firm will redevelop the site into a multi-let business park, which they will retain as an investment asset.

Comprising nine buildings in total, Crystal Martin has taken a short-term lease back of approximately 25 per cent of the property.

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An additional 150,000 square feet also remains available to lease, which has already generated strong interest from occupiers seeking additional storage space.

Ian Muxlow, director in the commercial team at Savills, who sold the property, said: “The former Crystal Martin site provided a rare opportunity for the purchaser to acquire a significant freehold site in a great location fronting on to two main roads including the busy A38 with excellent connectivity to the M1.

“This sale proves that significant demand remains for good quality industrial space in the region despite current market uncertainty in some sectors.

“The sale was agreed via informal tender and we received multiple offers from a range of investors.”