A BUSINESS park in Penistone has been sold in a multi-million-pound deal.

Over the past two years, Fairfield Business Park has been fully developed from being unoccupied into a thriving hub by family-run, Barnsley-based property and land specialists, Fairbank Investments Ltd.

The park has been bought by international packaging business Neal Brothers, for a seven-figure sum.

Located in the heart of Penistone, the historic former David Brown plant shut at the end of 2020 when former owner, SPX, transferred its production and manufacturing processes to an alternative UK production site, leading to job losses and vacant premises.

The 1930s factory development, once a major manufacturing hub employing more than 1,500 people at its peak production period, was given a new lease of life after being acquired by Fairbank in March 2021.

Opened by shipmaker Cammell Laird in the late 19th century, the site was mothballed in 1930 but taken over by industrialist Sir David Brown in 1935.

Sir David established foundry, pumps and fabrication operations in Penistone which produced bullet-proof castings during the Second World War and later specialised in manufacturing pumps for the global oil and gas industry.

The park currently consists of 14 independent offices totalling 15,000sq ft which is home to a range of flourishing independent businesses with a further 66,000sq ft of warehouse space which has been occupied by main tenants, Neal Brothers, since late 2021.

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Alex Sewell, of Fairbank Investments, commented: “We are thrilled that our vision to revitalise a local site of such historical importance has been fully realised and we have sold the business park as a thriving commercial hub, resulting in job creation and a bright future for the area.

“The legacy is an important one for the town following a few years of uncertainty but there is a diverse range of businesses on site, which have all created local employment opportunities and fully regenerated the area.

Joseph Green, also of Fairbank Investments, added: “When the production facility closed in 2020 during the pandemic, this resulted in widespread redundancies, and the future of the site in Penistone looked incredibly bleak.

“As a local family business in the area and living locally ourselves, we wanted to take positive action and restore the site to its former glory, fully benefiting the town and the local economy.

“We are incredibly proud and satisfied that we’ve achieved this objective and have left the business park in very secure and capable hands.

“We will watch with interest as the site continues to flourish and the businesses on site go on to even greater success.”