FME acquires Cottingley Business Park
Bradford developer Frank Marshall Estates has bought the 78,000 sq ft office park near Bingley from Cox22 in an off-market deal.
The terms of the transaction are undisclosed.
Frank Marshall Estates was advised by Handelsbanken and Clarion Solicitors. Cox22 was represented by lawyer Schofield Sweeney and Eddisons.
FME is owned and run by Edward and Jimmy Marshall. The former said: “This is a stunning business park, brilliantly located at the end of the Bingley bypass. It is only 15 minutes from Bradford city centre and 30 minutes from Leeds, with excellent public transport links between both cities and the surrounding areas as well.
“We are very pleased to buy this quality asset and to further strengthen our Bradford portfolio of offices. Personally, I have known about the Jaggar family, who own Cox22, for many years and have always thought they were good operators. Having got to know them during this deal, my initial thoughts have been confirmed.
“We are very excited to take this site forward and only hope we can do as good a job as Cox22 have done. It’s always good to do a deal with a handshake and then take it to completion with both sides honouring the deal as agreed.”
The sale of the park was triggered by the impending retirement of Donald Jaggar, one of the partners in Cox22.
There are 45-plus tenants on the park including Ramsey Health, Mineral Planning Group, Watson Buckle Accountants, Nevis Computers and Advancery.
Jimmy Marshall added: “The park is in great condition. All we are going to do is some re-signing and re-branding with a view bringing the park in line with the Frank Marshall Estates brands.”
Louise Leckenby, who owned Cottingley Business Park with her father Donald Jaggar, said: “The Marshall brothers have been a delight to deal with, straight-talking, uncomplicated and honourable.
“Whilst selling the business park was by no means an easy decision for either my father Donald or myself, having been a huge part of our lives for 25 years, we feel comfortable and confident that it is now in very capable and much younger hands to carry it forward into the future. We wish them all the best.”
Donald Jaggar added: “Although we had a number of enquiries for our Business Park, they were from the south of England, mainly in the London area. Many of our tenants have been with us from the outset of building the park 25 years ago and they became not just tenants but friends as well and we didn’t want to let them down.
“So, when the enquiry came from a local Bradford firm, we were pleased to talk to them and a deal was struck at our first meeting. The handover will be seamless.”
A further FME interest is Balme Business Park, Wakefield, where the company celebrated a full house in December last year.
