Wednesday, April 12, 2017

News: Rotherham factory sold

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A factory in Rotherham which has the capacity to manufacture in excess of 2 million wheeled bins per annum has been sold for £2.8m.

The 65,000 sq ft property on Barbot Hall Industrial Estate is home to MGB Plastics, the UK's largest and leading manufacturer of wheeled bins and kitchen caddies.

The three detached industrial warehouses units with a large yard for extended storage and a detached office have been sold by Kingspan to a private investor for £2.8m.

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MGB currently has the largest share of the UK wheeled bin and recycling container market alongside sister firm Straight Ltd and provides wheeled bins to numerous councils, including Rotherham. It has the most extensive collections of large tonnage injection moulding machines and wheeled bin tools in the UK and has invested over £10m in the recent years.

MGB is part of Irish plastics company, One51 plc, and will now rent the premises from the new owner. It holds a lease on the Rotherham site that expires in 2025 with around 9.25 years unexpired.

Robin Wimbush from Wimbush Real Estate acted for the purchaser.

The Capital Markets team at CBRE Leeds acted on behalf of the seller and also worked on a second deal at J38 Barnsley, which has been sold by Stainton to South Street Capital for £3.66m.

Robin Bullas, director of CBRE Capital Markets in Leeds said: "We are delighted to announce the sales of two major South Yorkshire industrial sites both situated in excellent locations with strong links.

"These sales demonstrate the current investor appetite for well positioned industrial property with further opportunities."

MGB Plastics website

Images: MGB


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