Fillip to food sector in Lincs with sale of processing plant

A Grade A food processing facility and 51 acres of farmland in the Boston area of Lincolnshire on the market for offers in excess of £3.8 million has been sold to a major operator in the sector.

Confirmation of the sale of the high-end, modern food processing and production site and associated land at Wyberton, Boston - known as NHBC 122 - comes from Eddisons whose Lincoln agency acted jointly with Lambert Smith Hampton (LSH) in representing the seller in the multi-million pound deal.

The bespoke, high-specification food production campus was the former site of operation for a food brand before being marketed for sale. The agents are not able to disclose the identity of the new owner.

However, in pointing to the speed of the sale - completed in seven days from the point of the seller’s and the new buyer’s solicitors being instructed - they indicate that the new owner is a ‘significant and serious’ operator in the food sector.

NHBC 122 has four built elements, totalling 122,323 sq ft, within the 14 acre, security-gated site. Food processing facilities are the main temperature controlled and ambient main food production area, chilled storage house and an additional, smaller production premises. There is a resource centre too in which offices and meeting rooms are located.

While the final sale price is also not disclosed, the agents advise that, without the 51 acres of farmland as part of the sale offer, offers in excess of £3 million were invited for the processing plant facilities and site, alone.

On announcing the completion of the NHBC 122 sale on behalf of the agents’ joint client, Will Wall, Director, Eddisons said, “The high quality, bespoke nature of the production facilities, as well as the well-laid out campus site and then the additional farmland option, was a ready-made commercial opportunity that was going to attract key operators in the food processing sector.

“The sale reinforces the pre-eminent position Lincolnshire occupies when it comes to food production and farming in the UK, and it’s a firm example of inward investment in this vital part of the regional economy.

“The speed with which the deal concluded once negotiations were underway is a further testament to that.”