A major Bury-based business has bought a borough industrial estate and has set aside £5m to refurbish and redevelop the site.

Crown Oil Estates, working with SCP Investments/Ignite, has acquired Warth Industrial Estate in Radcliffe, the largest single ownership site in the area.

The site comprises "280,000sq/ft within a fully secured 14 acre site and approximately 20 acres of land".

The site will be "extensively refurbished to provide a range of industrial/warehousing space and secure hardstanding".

Space on offer for businesses will "range from approximately 2,500sq/ft to over 50,000sq/ft with yards from 0.5 to two acres".

The acquisition of Warth follows Crown’s recent purchase of more than 600,000sq/ft of industrial space across Heysham Business Park, Barton Hall Industrial Estate, Eccles and Priestly Road in Wardley Industrial Estate.

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Managing director Matthew Greensmith said: "We are delighted to add a significant asset to our growing portfolio where we continue to invest over the long term to create business space to suit current occupiers’ needs in a range of sizes and types of buildings throughout the North West.

"Our ongoing regeneration programme has already enabled the creation of over 100 jobs, removal of significant ground contamination and has brought over 150,000sq/ft of previously dilapidated space back into use to the benefit of the North West economy.

"This work will continue at Warth with a budget of £5m earmarked for refurbishment and redevelopment at the site."

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Headquartered at the Crown Oil Centre at Heap Bridge in Bury, the £750m-turnover Crown Oil family of companies offers fuel-related environmental services and has interests in utilities connections, gas supply and uPVC building products as well as real estate.

Established more than 75 years ago by the Greensmith family, it now employs 1,500 people.

SCP Investments and Ignite provide strategic asset management advice for third parties as well as investing directly in their own assets.