Acting on behalf of a private client, CB Richard Ellis has sold First Avenue in Poynton to electronic goods manufacturer Loxit Products.
Gareth Pierce, surveyor in the industrial team at CBRE, commented: "The sale is a further sign that the commercial property freehold market is improving, especially for good quality products, with banks seemingly more willing to lend to well established companies."
John Whittle, director at Loxit Products, said: "We have been looking to purchase somewhere for the past six years. It's fair to say that, until the last twelve months, we haven't had the opportunity to purchase a quality building. Without the recession, I'm sure First Avenue wouldn't have been available, so we jumped at the chance. We take the view that you've got to back yourself; investing in ourselves will make us even more competitive, and in uncertain times that's got to be a good thing."
The 25,000 sq ft industrial unit is located on Poynton Industrial Estate in Stockport, and includes both office and warehouse space.
Loxit Products represented themselves.