Avison Young has acted for client, Globus to surrender its lease on Unit E 38 Wheelforge Way, Ashburton Point in Trafford Park, Manchester.
A new lease has been simultaneously agreed with Caesarstone UK on a 10-year lease with a break at five years, at a rental of £6.75 per sq ft. Alex Palfreyman from Savills acted for the Landlord, DTZi Investors.
Ruth Leighton from Avison Young said: “Negotiations commenced during Q4 2018 at Trafford Park when Caesarstone UK was earmarked as the potential future tenant for Unit 38. Caesarstone UK was immediately attracted to the modern, detached warehouse and was keen to secure it due to the lack of availability in quality units of this size in the Park.
“Supply in Trafford Park continues to be extremely limited for units of circa 20,000 sq ft upwards but demand remains strong. Unsurprisingly, we had a number of parties interested in this unit, which demonstrates the scarcity factor in the market at the current time.
“We are very pleased to have acted for Globus, as the surrender of this unit now affords the company to focus on its new 100,000 sq ft facility at Trafford Point, Trafford Park, which it acquired in Q3 2018.”
Avison Young is the world’s fastest-growing commercial real estate services firm.
Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.
