Network Space, which rebranded from Langtree last month, has acquired and let a 38,000 sq ft industrial building on Guinness Road in Trafford Park.
Network Space acquired the unit at Guinness Circle from Global Logistics for £2.52m and immediately agreed a 10-year lease with Cosentino, the Spanish producer and distributor of architectural surfaces at £5.75/sq ft.
After a minor refurbishment to clean and repair fixtures in the building, Cosentino has now taken occupation and will undertake a six-month fit-out for its Northern UK distribution centre.
The acquisition complements Network Space’s purchase of the adjacent unit in May 2012, a 27,000 sq ft industrial building on the same scheme occupied by CCF, the insulation and interior building products division of Travis Perkins.
Martin Mellor, investment director of Network Space, said: “We continue to seek similar sustainable investments and in a strengthening market such as this we acknowledge the need to work that bit harder to achieve best value.”
Network Space was represented by CBRE Manchester.