Rugby Mill in Chadderton, Oldham, is due to be demolished on behalf of the owners, the Casey Group of Rochdale.
The mill was bought by Casey in 2011 and is 200,000 sq ft across five floors, and sits on a three-acre site.
Rugby Mill currently stands behind COSTCO at Junction 21 of M60. Together with the adjoining six acres of land, which is also owned by Casey, the area is set to be developed into a strategic employment site with new industrial and warehouse units. Preston O’Herlihy and Lambert Smith Hampton have been retained as joint agents on the development.
Sara-Jane Preston of Preston O’Herlihy, who advised Casey in the acquisition, said: “The demolition is the first phase in a significant development for the Oldham area. The site will be cleared by Easter 2014, and will be offered as short-term storage while being marketed for phase one of the scheme. This will involve £4m of new investment and will create many new jobs in Oldham Borough.”
Andrew Aherne, director of Industrial at Lambert Smith Hampton, commented: “We’re delighted to be working jointly with Casey Group and Preston O’Herlihy on this project. The site will offer one of the very few prime developments on the east side of the M60, and provides a unique opportunity for occupiers seeking to locate in the area.”