Acting on behalf of Reliance Properties, the Industrial team at CBRE Manchester has completed both a sale and a lease deal at The Depot, a 170,000 sq ft extensively refurbished warehouse on Whitelands Road in Ashton-under-Lyne, Greater Manchester. BC Real Estate and Davies Harrison acted as joint agents.
Online food shopping retail business, Aytac Foods has purchased 71,263 sq ft at The Depot for the sum of £3.35 million, and Belfield Furnishings has leased 93,625 sq ft on an 11 year lease term at £4.25 psf.
The two deals follow the acquisition of the former bus depot by Reliance Properties. The company implemented a comprehensive refurbishment of the property, to include new clad elevations, offices and loading doors,
The Depot has excellent transportation links to the Greater Manchester conurbation with Ashton-under-Lyne located within 6 miles east of Manchester City Centre. Oldham lies 3 miles to the north and Stockport is 5 miles south west. Junction 23 of the M60 Motorway is approximately 2 miles to the west.
Phil Meakin from asset managers, PIN Property commented:
‘’Both Aytac Foods and Belfield Furnishing were identified prior to completing the refurbishment programme, underlining the depth of industrial occupier demand for north-east Manchester’’
Steve Capper, Director for the Industrial team at CBRE Manchester, commented;
“We are delighted to complete on two deals at The Depot on behalf of Reliance Properties. The property has been renovated to a high standard which provided a rare opportunity for the sale or lease of sought after warehouse space which is situated in an excellent distribution location. These latest deals to two retail businesses demonstrates the continuous high demand for industrial space within the Tameside and the Greater Manchester area.”
