The portfolio of commercial properties includes 93,432 sq ft of assets in Bodmin, Falmouth, Pool and Helston, all of which were previously owned by Cornwall Council.
Treveth is a partnership company set up by Cornwall Council to deliver new homes and commercial development to benefit people who live and work in Cornwall. It has a growing residential portfolio and planning permission to deliver more than 600 new homes over the next three years, with three schemes totalling 331 homes already on site in Liskeard, Bodmin and Tolgus, near Redruth.
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In addition to its residential activity, Treveth's ambition is to invest in a diverse investment portfolio that brings economic, environmental and social value to Cornwall, and generates a return that is reinvested back into local communities.
Dominic O'Neill, Treveth's Development Director, said: "We're pleased to see the commercial side of Treveth’s activities under way with this acquisition following the significant progress already made in rolling out our residential development pipeline.
"Treveth's mission is to play a part in shaping Cornwall’s communities and places positively, so commercial development has always been a central element of this. We want to develop workspace and commercial to ensure jobs as well as homes, improve the quality of commercial space in Cornwall and play our part in supporting the property needs of businesses looking to grow and invest here."
Treveth's first acquisition consists of mostly light industrial and storage units on 3.23 hectares of land that includes six active assets, with 45 units let on 34 tenancies, together with a further two development opportunities and one site with potential for redevelopment/refurbishment. Vickery Holman advised Treveth on the transaction and have been appointed as managing agents.
