A huge industrial site in Greater Manchester has been sold for £7.2 million after less than a week of marketing by top Birmingham commercial property consultants Siddall Jones.
The self-contained manufacturing and warehouse facility known as No 2 Works, on the established Kenwood Road Industrial Estate in Reddish, near Stockport, measures more than 160,000 sq ft.
Siddall Jones was instructed on behalf of the private vendor towards the end of September and the sale was completed on Friday 1 October.
The purchaser is Birmingham-based Mercia Real Estate which plans to refurbish and rent the property, with Siddall Jones retained to market future lettings.
Ed Siddall-Jones, managing director of Siddall Jones, said: “The swift sale of this valuable site shows just how strong the industrial market is and how demand is outstripping supply.
“We are pleased to have been retained by the new owners to market No 2 Works for new lettings once the refurbishment has been completed.”
Built around 1970, No 2 Works provides a detached, high-bay and open plan industrial-warehouse area with offices, canteen, toilets and an extensive concrete yard with car parking.
Samuel Clark, chief executive of Mercia Real Estate, said: “We are extremely pleased to have marked our entrance into the North West industrial market.
“We have acquired the building with full vacant possession which provides the perfect platform for us to showcase asset management expertise to a new geography where we will be making further significant investments in 2022.”
