Council sells Hele Business Park

NORTH Devon Council has sold Hele Business Park at Ilfracombe to local investment company AE Wakeman & Sons Ltd. The council first acquired the former gas works and coal yard at Hele in 1963 for use as a depot. It later developed into units for small loc

NORTH Devon Council has sold Hele Business Park at Ilfracombe to local investment company AE Wakeman & Sons Ltd.The council first acquired the former gas works and coal yard at Hele in 1963 for use as a depot. It later developed into units for small local businesses and in 1992 refurbishment works were undertaken and additional starter units were created. A small number of the original tenants still remain and the business park is currently fully let.The park consists of seven small self-contained units and nine small units on the first floor of the old Gas Retort House. The ground floor is on a long lease to local builders' merchants, RGB.Over the years it has become an established business park with a real mix of local businesses, including snooker cue manufacturing, interior design, light engineering, and artists.Cllr Richard Edgell, Lead Member for Asset Management, said: "We were very pleased with the level of interest in the sale, especially considering the current climate and difficult property market. The price achieved for the freehold well exceeded the guide figure of �275,000."The council has been re-evaluating some of its land and buildings, to identify surplus properties and Hele Business Park did not feature in its long-term plans. A spokesman said it was management intensive and had limited net income growth prospects. The proceeds of the sale will be used to fund other capital projects.