Adderstone Group acquires Sunderland warehouse site in multi-million pound deal
A Newcastle-based property firm has completed its purchase of two new warehouse retail units in Sunderland in a multi-million pound deal.
Adderstone Group has acquired the retail units located on Toll Bar Road, two miles south of Sunderland city centre as part of the ongoing expansion of its portfolio.
The group, which has made a number of investments in the region in the past 12 months, has purchased a 42,475 sq ft unit currently occupied by retailer B&M Retail, as well as a second vacant unit covering 14,324 sq ft.
The Fleming in Jesmond, the former Baja Beach Club on Gateshead Quayside and Broadgates Retail Park in Hexham town centre are among Adderstone’s most recent investments in the past year.
Adderstone Group founder and CEO, Ian Baggett, commented: “There is some good stuff happening in Sunderland and occupancy levels in our Quay West Business Village are higher than ever.
“The Toll Bar estate is in a great, strategic location and we are confident we can enhance value with further investment.”
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