Truck dealer drives expansion into new Worcestershire site
A truck dealers has snapped up a new site in Worcestershire in a multi-million pound deal ahead of its planned expansion.
Thursfields Solicitors acted for PM Commercials and a pension fund in the purchase of the 9.3-acre site at Berry Hill Industrial Estate in Droitwich.
Paul May, owner of the commercial vehicle dealer, plans to use around two acres of the new site for larger offices and truck parking spaces, with the remaining space rented out to other businesses.
May’s pension fund bought 1.5-acres of the new site, while the remaining 7.8-acres was acquired by his property company.
Tony Gibb, director of the commercial property department at Thursfields, said: “We worked between the acquiring company and the sub-sale pension fund, reporting to our respective clients and the solicitors acting for the lending bank.
“This was a complicated deal, and an intensive one given the major interest in the site due to its prime location, but we successfully secured an exchange of contracts on a tight deadline to the satisfaction of everyone involved.”
Gibb worked on the project for the pension fund, while Thursfields’ co-director Rob Pettigrew acted for PM Commercials.
PM Commercials is currently based at Rushock Trading Estate in Droitwich, a 1.6-acre site that it intends to retain and rent out once it has moved.
May said: “Our expanding business needs the extra office and parking space and the new site at Berry Hill Industrial Estate offers a great location.
“Once we have moved, we will rent out the other space we have purchased along with our existing premises.”
John Dillon, of GJS Dillon commercial property consultants, advised on land registry plans and commercial use, while Ballards chartered accountants provided land tax advice.