Acting on behalf of Joint Administrators from Deloitte LLP, Bilfinger GVA Industrial & Distribution Team has provided advice throughout the insolvency process and secured the freehold sale of 50,223 sq ft industrial unit at Tenax Road, Trafford Park to the Britannia Hotel Group.
Set in 2.76 acres, the detached unit comprises of 40,113 sq ft warehouse space and two floors of office accommodation totalling 10,110 sq ft.
Bilfinger GVA’s Restructuring and Recovery team also acted on the sale, advising the Administrators on the best and final bid process for the unique property.
Ruth Leighton, Associate, Bilfinger GVA’s Industrial and Distribution team said: “The Trafford Park property generated very strong interest, particularly from the owner-occupier sector, which culminated in an informal tender process, clearly underpinning the strength of the Trafford Park market. This freehold transaction signifies the growing market demand for industrial accommodation and the significant lack of supply of quality space in Greater Manchester”.
