Morley Estates has paid £2.5m to CEG Group for 77,000 sq ft of industrial space on Drury Lane in Oldham.
The new owner has also agreed a short-term letting on the self-contained building to Alliance Logistics and intends to carry out a comprehensive £300,000 refurbishment next year.
The site is adjacent to Victoria Trading Estate, where Morley Estates already owns more than 350,000 sq ft of industrial and warehouse accommodation. The Cheshire-based development company is currently building a further 30,000 sq ft of industrial accommodation in three blocks on the estate, due to be ready for occupation by the end of November.
Davies Harrison acted on behalf of the CEG Group and has been retained as sole letting agents.