The Prime Group pre-lets first unit at Lancashire industrial scheme

The first unit at Prime Point, a new industrial site near Blackburn, has been pre-let to a long-established Lancashire manufacturer, six months ahead of completion.

The 50,977 sq ft unit has been let to Spiroflow, which currently operates from premises in Clitheroe. Founded in 1971, the company invented the flexible screw conveyor and is a global leader in powder handling and dry solids processing systems. The new premises will provide additional space for growth following its partnership with US-based Cablevey Conveyors under the newly formed Automated Handling Solutions (AHS) brand.

A second unit of 55,229 sq ft at Prime Point is also attracting strong interest. Both buildings are currently under construction and due for completion in the final quarter of 2023.

Imran Younus, Commercial Director at The Prime Group said: “We are delighted to have secured Spiroflow at this early stage of our build programme. This pre-let highlights the resilience of the industrial sector in the North West and we have good reason to be confident in securing a tenant for our other new build unit shortly.”

Will Kenyon of B8 Real Estate, which advised the landlord, added: “Given the shortage of quality industrial space in the Blackburn area, Prime Point is attracting a lot of interest from local occupiers. Not only has the first unit been snapped up well in advance of completion, but we have also received enquiries about the second and are speaking to a number of interested parties. Prime Point demonstrates the demand for additional supply in the region.”

B8 Real Estate and BC Real Estate acted for the landlord, with Trevor Dawson’s advising the tenant. Kuits Solicitors acted for the landlord on the lease transaction and Farleys for the tenant.

Blackfinch Property, UK property lender, has completed its largest loan to date, a £20m refinancing for a mixed portfolio of 54 residential and commercial properties across East London.

The 24-month deal will enable the landlord to continue to provide high quality residential and commercial properties to London tenants, with funds also released for further improvement works.

Phil Downie, Blackfinch Property investment manager, said: “We’re very pleased to support this experienced landlord. This is Blackfinch’s largest loan to date and is backed by top London real estate with the interest fully serviced by the underlying income. The properties already represent some of the best homes in their markets and will be further improved over the loan term by upgrades to their energy efficiencies.”