Investor and developer GLP has bought a 9.18-acre redevelopment site in Trafford Park, Manchester.
Currently occupied by manufacturer Tenmat, the site will be redeveloped when Tenmat relocates to Irlam at the end of this year.
GLP Development Director Adrienne Howells, said: “This is an attractive site in one of the largest, most well-connected logistics parks in the UK and Europe. The site lends itself to multiple redevelopment opportunities, including reformatting as a large single unit of around 200,000ft2 or splitting into an arrangement of smaller units. GLP has been extremely active in the UK recently and this latest acquisition and development intention indicates our confidence in the North West region.”
Indeed Rob Taylor, Partner at Cushman & Wakefield, added: “This site represents one of the best opportunities to secure development land in a prime location in the region. There was extremely strong interest in the site.”
There was no indication of the price paid but recent sales in Trafford Park have hit £2 million plus per acre.
Cushman & Wakefield advised Tenmat on the sale of the site and the relocation to Irlam.