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A giant printing site in Liverpool with “huge redevelopment potential” has been sold in a deal agents say shows the strength of the industrial sector in the North West.

The former Prinovis site in Estuary Business Park in Speke ahead of the closure of the printing plant itself, which saw 250 jobs lost.

Now the site has been bought by new business GB Europe, which is likely to announce its plans for the area later this year. The value of the deal has not been disclosed.

Prinovis º£½ÇÊÓƵ announced in late 2022 that its Speke plant would close, blaming a "significant decline" in the printing market since 2019 and “huge increases" in paper prices.

The 50 acre site was marketed by property giant CBRE, which saw a “competitive bidding process” and saw the sale complete within five weeks of agreeing terms. As well as the printing plant, the site also includes 27 acres of land for future expansion.

CBRE said the site “has capability of either using the existing building or developing a logistics unit of up to approximately 1m sq ft”. And it said: “Exact details on the future proposed use are to be confirmed at a later date.”

Estuary Business Park is known for manufacturing and logistics, particularly in the pharmaceutical, retail and automotive sectors. Neighbours include Jaguar Land Rover, Ford, Seqirus and B&M.

Neil Kirkham, senior director at CBRE, said: “Having received a significant amount of interest in this site, we are delighted to have concluded this transaction in a five-week period, a real accomplishment in the current market. The site has been so widely courted due to its strong location and redevelopment potential, and we look forward to seeing it come to fruition in the coming years.”