Telford's GKN site bought up in £20m deal with further investment on the way
GKN’s 110-acre Hadley Castle Works site in Telford has been bought in a £20 million deal.
Mercia Real Estate (MRE) – the Midlands-focused real estate investor and asset manager – has acquired the site from Melrose.
The site comprises of 1.5m sq ft of buildings in addition to about 35 acres of employment land providing the opportunity for in excess of 650,000 sq ft of new build industrial accommodation.
Hadley Castle Works is a significant and well-known industrial complex, half of the built accommodation is occupied by Mooveero – formerly part of GKN – which has been present on the site since 1905.
Samuel Clark, CEO of Mercia Real Estate, said: “MRE are delighted to have acquired this strategic employment site in an established industrial location and we are committing to invest over £60 million into the site to attract new employers and provide for existing businesses looking to expand in Telford."
Sam added: “We will be working very closely with Moveero to ensure that this site can be a home for them as they enter their next phase of growth and also working with Telford & Wrekin Council, along with the local community and its representatives to regenerate and develop the site.
"Hadley Park will be the most significant new employment opportunity to be brought forward in Telford in recent memory, providing a variety of modern institutional grade distribution warehousing alongside starter units for small businesses."
