A BUSINESS park in Kearsley has been sold by the property developer responsible for the regeneration of Farnworth town centre.
St. Modwen announced yesterday that it has sold the Sunset Business Park, the tenants of which include Vodafone and Panalux, a film and television facilities business.
The company did not disclose the identity of the buyer or the amount for which the site had been sold.
David Nuttall, St. Modwen development manager, said: “Having managed the estate for six years, reduced the voids we inherited and pushed the rents forward, the next logical step was for St. Modwen to exit.
“We can now focus our attention on our other assets where we can continue to add value through development and active management as well as looking to bring in further development opportunities.”
The 5.4 acre business park, off Manchester Road, was acquired by St. Modwen in 2011.
Earlier this year, St. Modwen reaffirmed its commitment to go ahead with the multi-million pound regeneration of Farnworth town centre.
The ambitious plans to replace the old Farnworth Market precinct have stalled since planning permission was granted two years ago.
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