Cabot snaps up 167,000 sq ft of Trafford industrial 

Wain Estates has sold three units at its Carrington Gateway development to the US investor. 

The deal sees Cabot Properties acquire a total of 167,000 sq ft of industrial space for an undisclosed sum. 

The largest of the three units, a 104,000 sq ft shed, is let to Hilti. The other two properties are let to Protective Packaging and Charles & Ivy. 

Cabot owns more than 5m sq ft of industrial assets across the UK, including Eden Point in Runcorn.

Previously known as HIMOR, Wain Estates put the whole of the 211,000 sq ft Carrington Gateway up for sale last year, seeking offers of around £33m. 

Under the deal with Cabot, Wain Estates will retain 44,000 sq ft of vacant accommodation within the development it completed in 2020. 

Wain Estates’ managing director of development, Jack Brister, said: “This is a very positive endorsement of the quality of the product we’ve created in the first phase of commercial development at the Carrington Estate. 

“It is particularly encouraging given that we are currently making plans for future commercial phases at Carrington. We wish Cabot all the best with the management of the site.”  

JLL acted for Wain Estates and B8 Real Estate acted for Cabot. 

Michael Williams, director of UK investment at Cabot Properties, said Carrington Gateway is “well-located with strong ESG credentials and a favourable occupational dynamic in the locality”.  

“We are continuing to actively seek both Core and Value Add opportunities to build upon our existing portfolios in the UK.” 

At more than 1,600 acres, Wain Estate’s Carrington masterplan is one of the UK’s largest brownfield regeneration schemes.

The developer aims to provide 3.5m sq ft of employment space and 2,900 homes over the next 15 years on land previously occupied by the Shell petrochemical works. 

To date, Wain Estates has secured consent for 1.2m sq ft of industrial space and 600 homes. 

Colliers and JLL are the retained agents at Carrington Gateway.