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Raynsway Properties, which is based in north Leicestershire, has been sold to a private investor.

Raynsway is a long-established developer and property management business which built and runs the 43-acre Watermead Business Park which fronts on to the A607 on the northern outskirts of Leicester.

The business park includes the Dunelm and Flogas headquarters, premises for Albert Brown Ltd and Steris Plc and a Lamborghini garage, as well as the Raynsway head office, among others. It also had the region's first PassivHaus, ultra efficient office block.

The company, which also developed and owns Leicester Marina near Thurmaston, was founded in 1977 by Charlie Rayns and first developed industrial units at Pinfold Road before doing the nearby Bridge Business Park.

The marina followed and in the 1990s the business bought land either side of the A607, beginning Watermead Business Park in 2003.

It has been sold to a client of Boundary Real Estate Partners, which specialises in º£½ÇÊÓƵ commercial real estate.

Boundary was founded in 2018 by Charlie Walker and Mike Morrison who each have more than 20 years’ experience in the º£½ÇÊÓƵ market – covering investments, property and asset management, acquisitions, equity and debt capital markets and fund management.

Mike Morrison said: “The Raynsway portfolio is a unique opportunity for Boundary.

“We are excited to bring forward our development and active management plans for the estate.”