A company owned by the billionaire Issa brothers has acquired a planned industrial estate in Burnley that could support 900 jobs.
Monte Blackburn, whose two directors are Mohsin and Zubar Issa, has acquired the Burnley Bridge South site from Eshton Group for an undisclosed sum.
The deal comes after the Yorkshire-based property developer’s successful planning application for the 32-acre brownfield site, with Burnley Borough Council approving construction of a further 500,000 sq ft of industrial and warehousing space.
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The development will be the third phase of the Burnley Bridge Business Park scheme and the site is the second plot to be purchased by Monte Blackburn, following the company’s acquisition of the 10-acre Titanium Park in 2021.
The new owners will develop a mix of built-to-order and speculative units at the site, with an estimated gross development value (GDV) of over £50m.
Eshton's managing director James Chapman said: "Over the past decade, the site that is now Burnley Bridge Business Park has been transformed from a vacant brownfield plot into a sought after location for industrial and logistics businesses, with excellent transport links, a rich network of supply chain partners and a skilled local workforce.
"The sale of this third phase to a local company that has a proven track record in delivering quality accommodation and attracting a great mix of occupiers continues that legacy of sustainable investment and business growth, which is great for jobs, great for local businesses and an ideal catalyst for further investment and growth."
Alex Kenwright at Monte Blackburn added: "We are delighted to be working with Eshton again and looking forward to delivering this scheme to the occupier market, which remains strong in this area of Lancashire."
Eshton was advised by Michael Cavannagh of Trevor Dawson and Mike Rooney of Avison Young. Monte Blackburn has retained Trevor Dawson as the selling agent.
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