Double deal at Tameside’s Depot
Acting on behalf of Reliance Properties, CBRE has completed a £3.35m sale and a 94,000 sq ft letting at The Depot, a 170,000 sq ft former bus garage in Ashton-Under-Lyne.
BC Real Estate and Davies Harrison acted as joint agents on The Depot. Online food shopping retail business Aytac has purchased 71,200 sq ft at the Whitelands Road development for £3.35m, while Belfield Furnishings has leased 93,000 sq ft on an 11-year lease term at £4.25/sq ft.
The two deals follow the acquisition of the former bus depot by Reliance, which implemented a refurbishment including replacement cladding, and new offices and loading doors.
Phil Meakin, of asset manager Pin Property said: “Both Aytac Foods and Belfield Furnishing were identified prior to completing the refurbishment programme, underlining the depth of industrial occupier demand for north east Manchester.”
Steve Capper, director for the industrial team at CBRE in Manchester, added: “The property has been renovated to a high standard which provided a rare opportunity for the sale or lease of sought after warehouse space which is situated in an excellent distribution location.
“These latest deals to two retail businesses demonstrates the continuous high demand for industrial space within the Tameside and the Greater Manchester area.”
Both occupiers were unrepresented.