Trade park home to Screwfix, Travis Perkins and Topps Tiles sold for more than £7m

A trade park which is home to the likes of Screwfix, Travis Perkins and Topps Tiles has been sold for more than £7m.

Manchester-based property company Elstar has purchased Gateway Park in Bangor.

The trade park’s tenants also include Eurocell, Royal Mail, Toolstation and Enterprise Rent-a-Car.

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Elstar, which purchased the site from two different owners, has said it will now be considering the future development potential of Gateway Park to increase its value.

Lawrence Vaughan at OBI, who advised Elstar on the acquisition, said: “We are delighted to have advised Elstar on this acquisition.

“Gateway Park is one of North Wales’ main trading estates, is fully let to a best-in-class tenant line up and provides the buyer with excellent rental growth opportunities moving forward.

“There is also potential to develop on the site to create additional commercial space in the future.”

Metis and Avison Young advised the two different sellers. Kuits represented Elstar on the legals.