Blackstone acquires 7m sq ft of Greater Manchester industrial 

The investment giant has bought Harbert Management Corporation’s holdings at Heywood Distribution Park and Trafford Park, it is understood. 

Global real estate giant Blackstone has completed a deal to acquire the Greater Manchester portfolio of industrial assets, which totals around 7m sq ft, according to market sources. 

It has not been disclosed how much Blackstone paid for the portfolio. Costar reported the deal was worth around £480m. 

Blackstone declined to comment and Harbert was contacted for comment. 

At Trafford Park, Harbert acquired 2m sq ft of assets from Segro in 2012 and has since developed roughly the same amount again in partnership with Canmoor. 

As part of the same £204m deal, Harbert also acquired Heywood Distribution Park and Kings Norton Business Centre and Meteor Park, both in Birmingham. 

The Trafford Park portfolio includes Trafford Point, a pair of warehouses totalling 240,000 sq ft on Ashburton Road West close to Junction 10 of the M60, and North Point units one and two, industrial warehouses of around 62,000 sq ft each on Mosley Road. 

Warrington Council had been under offer to acquire Harbert’s Trafford Park holdings for around £220m in 2020 but ultimately pulled out of the deal.