Mortons business complex in Horncastle is sold to property giants
A major industrial base and office complex in Horncastle has been sold in a noteworthy business deal.
The Morton Way complex, which spans 106,855 square feet, is a multi-let site at the Boston Road Industrial Estate that was previously owned by Mortons Print and Mailing.
Mortons is an award-winning company that is one of the UK’s leading newspaper contract printers, offering an extensive range of printing, delivery and mailing services to customers large and small.
Its portfolio currently includes national, regional and local publishers, political parties, local authorities and student newspapers as well as specialist music and entertainment publications.
The firm is remaining as a tenant at the site, but the overall complex has been bought for an undisclosed fee by the Manchester-based commercial property giants, Hurstwood Holdings, according to the Place Midlands website.
Hurstwood is a long-established, family-owned business that has more than 1,200 tenants across the country.
The company says it prides itself on “combining entrepreneurial vision with hands-on expertise to unlock potential in every property”.
Hurstwood’s executive chairman, Stephen Ashworth, says he is delighted to acquire the Horncastle site, where other occupiers currently include Spaceright Europe Ltd, the UK’s leading manufacturer of display and presentation products; Quadrant Surveying Ltd, construction cost consultants and project managers; B.A. Bush and Son Ltd, a motor vehicles parts and accessories firm; and a private gym operator.
In addition, the complex includes 11,017 square feet of vacant accommodation which, said Mr Ashworth, “provides asset management and leasing opportunities”.
He went on: “This is an excellent addition to our national portfolio and very much aligns with our strategy of acquiring well-located multi-let assets.
"Our in-house team will be able to employ its proactive management strategies, working closely with existing occupiers, and ensure the site continues to provide high-quality accommodation befitting the Hurstwood Holdings portfolio.
“The availability of vacant space also presents a clear opportunity for future rental growth and further enhancement of the asset over time.
"This is an area of Horncastle that is set to benefit in the future from new investment and development, which will strengthen the local offering of amenities.”