Historic mill sold for '˜undisclosed sum'

The former home of a major upholstery supplier in Fence has been sold for an undisclosed sum.

Skipton Properties Limited has bought Spring Mill, the long time home of Panaz, the fabric and upholstery suppliers.

Spring Mill, which has planning permission for residential use, was sold on behalf of Panaz Properties LLP by Taylors Solicitors.

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Panaz, one of Europe’s leading suppliers of decorative fabrics and wallcoverings for the worldwide hospitality, healthcare and corporate sectors, had been based in Fence for 25 years before its move to new premises in Burnley last year.

Mike Berry, finance director of Panaz Ltd, said: “Taylors worked tirelessly on our behalf, along with sales agent Trevor Dawson, to bring this project to a successful conclusion.”

Angela Bhaseen, Taylors commercial property partner, said: “We are delighted to have advised the company, not only on the sale of this historic building, but on Panaz’s purchase of its new facility on Network 65 Business Park. This marks a new and exciting phase for the company.”

Panaz was also advised by Trevor Dawson and Skipton Properties Limited were advised by Gordons LLP.