Network Space, formerly known as Langtree, has exchanged contracts with the Homes & Communities Agency to buy the former Ashton’s Field Colliery site in Salford, close to the M61.
The 14-acre site will be brought forward for industrial space. A planning application is expected to be submitted later in the year.
The site is capable of accommodating up to 150,000 sq ft of employment space and it is likely that this will involve a wide range of unit sizes, both terrace and stand alone, to suit occupier requirements.
Stephen Barnes, managing director, said: “The Ashtons Field site offers a great opportunity to provide new high quality industrial space serving the Greater Manchester market. There has been a paucity of new space coming forward in this sector for well over a decade despite good levels of demand as evidenced by our own 3 million sqft portfolio which is currently 95% occupied. We intend to capitalise on this demand and are working closely with Salford City Council, the HCA and other partners to ensure that the space can be brought forward as quickly as possible.”