Taylors completes sale of former Panaz base

Taylors has completed the sale of Spring Mill in Fence, the long time home of Panaz, one of the UK’s leading fabric and upholstery suppliers.

Spring Mill, which has planning permission for residential use, was sold on behalf of Panaz Properties to Skipton Properties for an undisclosed sum.

Panaz is one of Europe's leading suppliers of high quality decorative fabrics and wallcoverings for the worldwide hospitality, healthcare and corporate sectors and had been based in Fence for 25 years before their move to new premises in Burnley last year.

Mike Berry, finance director of Panaz Ltd, said: “Taylors worked tirelessly on our behalf, along with sales agent Trevor Dawson, to bring this project to a successful conclusion, within reasonable time.

“Their guidance and support through quite an involved and detailed process was much appreciated.”

Angela Bhaseen, Taylors commercial property partner, who advised Panaz said: “We are delighted to have advised the company, not only on the sale of this historic building, but on Panaz’s purchase of its new facility on Network 65 Business Park, Burnley in 2015. This marks a new and exciting phase for the company.” Panaz was also advised by Michael Cavannagh of Trevor Dawson and Skipton Properties was advised by Paul Young of Gordons.