Cabot Corporation's former manufacturing site in Dukinfield, Greater Manchester has been acquired by Stirling Lloyd for an undisclosed sum.
Jones Lang LaSalle advised Cabot Corporation. Stirling Lloyd was advised by GVA Grimley.
The 13-acre site contains warehouse buildings totalling 147,630 sq ft alongside other labs and offices on approximately nine acres of land on the east side of Gate Street, as well as four acres on the west side of Gate Street, which is earmarked for expansion land/future development.
Phil Morley, associate director in Jones Lang LaSalle's National Industrial & Logistics team in Manchester who advised on the sale, said: "We generated strong interest for the site which culminated in a number of serious offers being made. Even though this was not a straight forward sale, the flexibility of our client allowed us to work closely with the purchaser to establish appropriate terms."
Morley continued: "The growth in occupier activity witnessed over the first quarter of this year has helped reduce vacancy levels in the North West. With the few leasehold and freehold units remaining in this size bracket, this could lead to developers to start contemplating design-build warehouses once again."