WHR Property Consultants has advised a private investor on the sale of a 6,893 sq ft warehouse in Hollinwood, near Oldham to Constant Engineering for £490,000, equating to £71/sq ft.
The unit forms part of the Meadowbank Business Park close to junction 22 of the M60. Gary Chapman, associate partner at WHR, said: "The deal leaves one remaining vacant unit of 6,800 sq ft plus a high quality office building of 10,000 sq ft approximately, where we have just let one floor and are talking to a number of high profile occupiers on the remaining two floors.
"The sale of this warehouse demonstrates that in certain locations, industrial values are starting to recover, as the availability of good quality accommodation is diminishing. Following the success of the recent schemes at Axis and Birch Industrial Estate in Heywood, hopefully this will be a further sign of encouragement to developers to begin to contemplate speculative development again."
Ryder & Dutton are joint letting agents.