Large warehouse lettings agreed in Stockport and Preston

Fashion trader Chilli Apparel has taken a 145,000 sq ft distribution warehouse in Bredbury on a 10-year lease, while third party haulage company H Parkinson has sub-let a 130,000 sq ft unit at Walton Summit, Preston.

According to agents WHR and Lambert Smith Hampton, the deal at Chain Point in Stockport is the second largest so far this year.

The warehouse is sub-let from Renold, while the owner is a private equity company. The rent is £3.75/sq ft.

Meanwhile, at Walton Summit Road in Preston, landlord Moorcot Property has let a warehouse known as Alpha to H Parkinson Haulage, which is running a dedicated client contract from the building.

Morgan Martin and Aherne Property Consultants were the agents.

The letting was agreed quickly following a lease expiry at the end of May, with new tenant secured by the start of August. The lease was agreed at close to the marketing terms of £3.95/sq ft.

Chris Swarbrick of Moorcot Property, said: “We acquired this property in the knowledge there was a lease expiry but were confident of being able to re-let the property based upon the specification and location. As a result, we have managed to add significant value to this asset which will continue to provide future asset management opportunities both in terms of rental and capital growth.

“We have also agreed terms to let a yard on our adjoining asset, Four Oaks business Park which is already fully let, to support the growth and expansion of the utility company based on the estate. This reinforces our confidence in the location which has an extremely limited supply therefore maximising growth opportunities.”

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Great result for the deal at Chain Point – and good to see our property marketing campaign paid off for the agents.

By Blaze Marketing

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