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Indurent acquired the site early in 2024. Credit: via FTI

ADI makes 62,000 sq ft Oldham move

Following a deal with landlord Indurent, Cobalt Two in Chadderton is now the European headquarters of the firm, a global distributor of smart living and security products.

The Oldham site has become the EMEA headquarters for ADI Global Distribution, a business headquartered in New York State with more than 200 locations in 20+ countries.

Indurent said that the unit at Broadway meets the highest sustainability and energy efficiency standards, boasting a BREEAM Very Good accreditation and an EPC A rating. The facility includes eight electric vehicle charging points, access to 200KVA of power, and 3,000 sq ft of premium office space across two floors.

The building was developed by Marshall CDP and acquired by Indurent at the beginning of last year. ADI’s signing was a new headline rent for the region, at £10.50/sq ft.

Oldham Broadway Business Park is also home to tenants including DVL, Bifold Group and eBay, plugging into the motorway network from its location close to the M60.

The Chadderton area is enjoying a strong run, with this week also seeing finalisation of a deal for Iceland subsidiary Inspired Global Cuisine to take 369,000 sq ft in Chadderton.

All this reflects a healthy performance for North West industrial & logistics in 2024. Knight Frank’s recently released LOGIC report recorded a return to growth over the year, with transactions reaching 4.8m sq ft, a 7.5% increase on 2023 and surpassing the five–year pre-pandemic average.

Daniel Austin, portfolio management director at Indurent, said: “There is strong demand for modern industrial workspace in the North West and Oldham is an attractive proposition as it offers exceptional connectivity and access to a skilled local workforce.

“We expect our remaining vacant unit at Cobalt Two to attract significant interest against the backdrop of Oldham’s acute undersupply of Grade A warehousing.”

ADI Global Distribution’s real estate manager David Abrahams posted an update on LinkedIn from the site in December, reporting that connection to the National Grid has now been established and solar panels fitted to the roof.

He said: “We’re excited to move into our new premises to accommodate our expanded offering and enhance our operational capabilities.

“As a leading distributor and smart living products, services and software provider we have a global vision to modernise our workplaces and optimise our operations for growth – and this new site perfectly aligns to that strategy.”

Indurent, a Blackstone portfolio company, now boasts a 28m sq ft portfolio managed through a tech-led operating platform.

The firm was formed in 2024 by bringing together the former Industrials REIT and St. Modwen logistics businesses.

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