A LONDON-based retail and storage company is setting up in a village five miles from Taunton.

The completion of the sale of the Rexquote premises on Broadgauge Business Park, Bishops Lydeard, to an unnamed buyer was completed this morning (Thursday, March 23).

The announcement of the sale following more than 20 years of ownership was made by WT Estates and Robert Cooney.

A spokesperson for WT Estates said the sale followed a "targeted marketing campaign".

They added that the buyer is looking to expand into the West Country "following strong trading in their already operated areas".

The future of the premises looks an exciting one with plans to diversify the building's offering and attract local business.

The two-acre plot included a 28,000sq ft industrial warehouse, substantial parking and a 10,000 sq ft compound area.

The sale was concluded off an asking price of £1,200,000.

William Trott, managing director of WT Estates, said: "It was an honour to work with the previous owners on securing their exit.

"We wish the new owners the very best and look to assist them in their growth exploring new opportunities here near the county town of Somerset”.