77,000 sq ft deal at Stakehill

Disaster Recovery Services has signed a 15-year lease on 77,018 sq ft at Stakehill Distribution Park, Middleton.

Landlord Coif Charities Property Fund and fund manager CCLA, advised by agent Preston O'Herlihy, let the warehouse, on 4.6 acres, at £4.25/sq ft with a 10-year break clause.

The warehouse was refurbished in 2012 after being vacated by Norbert Dentressangle.

DRS, which provides companies with secure off-site media and document storage, is currently based in Heywood Distribution Park have taken the building to provide expansion for their growing business.

Sara-Jane Preston, partner at Preston O'Herlihy, said: "In the current market there are few warehouse properties available of this quality and size and before concluding the deal with DRS we had two other parties requesting terms. This is symptomatic of the market where no new development has taken place for the past four years.

"Good quality secondary buildings in excess of 50,000 sq ft are in short supply in good locations."