A multi-franchise North-East car dealership has purchased the last unit on Opus North’s Preston Farm Industrial Estate complex on Teesside.
The Jennings Motor Group, which also owns an adjacent unit, paid an undisclosed sum for the 93,000 sq ft Opus Park site located in the centre of Stockton’s biggest trading estate. Developed by the Ilkley-based company, the warehouse complex was built on the site of the town’s former 2.3m sq ft MFI factory.
“This final deal is a ringing endorsement of the quality of the development and the investment we made in it,” commented Opus North director, Andrew Duncan. From what was once a derelict production plant building his company has created 11 high-spec, single-storey units with sizes up to 150,000 sq ft.
Opus, one of the fastest growing investment and development companies in the country, acquired the 16.5-acre abandoned furniture factory in 2006. The following year it spent £2.5m renovating and upgrading the existing buildings to provide 360,000 sq ft of space.
“This has transformed the old MFI factory into a modern industrial and warehousing complex for the 21st century,” Duncan added. “It is adjacent to the A66, which gives it connectivity to Britain’s motorway network, and is also close to Durham Tees Valley Airport and Teesport.
“Preston Farm suits modern manufacturing and warehousing companies perfectly. This final sale cements further the sentiment that the North-East industrial occupational and investment market has picked up,” he said.
Founded in 1917, Jennings sells and services Ford, Kia, Mazda and SEAT vehicles from its dealerships across the region. It has been presented with “The Chairman’s Award”, Ford’s most prestigious award for outstanding levels of customer satisfaction on 17 separate occasions over the past 20 years.
