Park Cakes will take over a unit on Pilsworth Road previously occupied by collapsed stationery firm Spicers.
The cake maker has signed a 10-year lease on the 85,000 sq ft unit and will pay a rent of £5.50/ sq ft.
The unit, located close to Heywood Distribution Park, is owned by a charitable trust and has been vacant since Spicers appointed administrators in June 2020.
The new facility forms part of Park Cakes’ expansion plans; the company also has sites in Bolton and Oldham.
Gerald Eve and BC Real Estate acted for the landlord and Park Cakes was unrepresented in the transaction.
Following a high level of interest in the unit, the landlord opted not to go through with a planned refurbishment of the facility, according to Jason Print, partner at Gerald Eve.
“The fact that occupiers were content to take the space now rather than wait demonstrates the palpable depth in market demand,” he said.
John Barton, director at BC Real Estate, added: “To have instructed solicitors within six months of commencing a full marketing campaign is reflective of the current market, with few facilities available in such an established business location.
“Park Cakes represents an excellent covenant and we are pleased to have supported a British manufacturer in their business growth.”