PJM acquires three commercial sites
Preston-based PJM Property Investments has acquired three commercial sites in central Lancashire.
The firm has added Cuerden Green Mill in Lostock Hall and Charnley Fold Lane in Bamber Bridge to its own portfolio while M M Acquisitions, one of its group companies, has acquired Gaskell House in Rough Hey Road, Preston.
Cuerden Green Mill is a 32,000 sq ft industrial premises at Sherdley Road Industrial Estate. The currently vacant property is being refurbished before being re-let.
Charnley Fold Lane (pictured) features a mix of commercial units. PJM plans to work with existing occupiers to reorganise and refurbish the site and attract new businesses.
Gaskell House, situated at 45-49 Rough Hey Road, is a 56,000 sq ft property comprising a warehouse, large yard, and newly refurbished office facility.
The commercial property team at Harrison Drury solicitors advised the PJM group on the transactions. Mark Clarkson at Eckersley acted as agent in respect of Cuerden Green Mill and Charnley Fold Lane properties and has been retained by the PJM group on all three sites.
Patrick Murphy, director of PJM, said: “The demand for good warehouse space high. Our model is based on acquiring, adapting, and modernising commercial properties to make them attractive to new occupiers. All three of these properties will help us support the Lancashire economy by providing viable spaces for growing businesses in thriving locations."
Simon England, partner and head of the commercial property team at Harrison Drury, said: “We’re pleased to have supported the PJM group in completing these deals in what has proven to be a very competitive investment market for good industrial opportunities.
“There were some fairly complex elements to these deals including conditional and contractual issues as well as some guidance around tax planning. We’re pleased to have supported Patrick and his advisory team to get these multi-million-pound deals over the line.”
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