AN investment firm is set to move into new premises on a busy Colchester industrial estate.

Newman Commercial has completed the sale of a 12,600sq ft industrial building in Brunel Way, on the Severalls Industrial Estate.

The premises were occupied by engineering firm CH Lindsay and Sons, which closed the site just before Christmas.

Forty staff were made redundant when the firm entered administration, however more than 20 were saved in the company's maintenance department.

The new owners will be occupying part of the premises themselves and also plan to convert the remainder of the site in to offices.