Law firm Taylors secures sale of former Panaz facility

A Lancashire building once used by fabric and upholstery supplier Panaz has been sold.

Spring Mill, located in Fence, near Pendle, has been sold to Yorkshire property developer Skipton Properties Limited.

Panaz, a global supplier of wallcoverings and decorative fabrics for the corporate, hospitality and healthcare sectors, was based in Fence before relocating to Burnley in 2015.

Law firm Taylors acted on behalf of the site’s owner, Panaz Properties LLP, during the transaction.

Mike Berry, finance director at Panaz, 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, a commercial property partner with Taylors, said the sale marks the start of “an exciting new phase” for Panaz.

She commented: “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.”

Michael Cavannagh of commercial property consultancy Trevor Dawson also advised Panaz in the deal, while Skipton Properties Limited was advised by Paul Young of law firm Gordons LLP.

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