Peel sells Irlam plot for £450,000 an acre

Peel Developments has sold a 3.79-acre site in Irlam, Greater Manchester, to GGM Properties for nearly £2m – twice the £1m asking price.

GGM occupies part of the site, leaving a developable area of 2.8 acres. The land is situated on Northbank Industrial Estate at the junction of Irlam Wharf Road and the A57.

Jason Print of Cushman & Wakefield, advising Peel, said: "This was an exceptional deal achieving in excess of £450,000 per acre – one of the highest recorded purchase levels for land in this area – proving that, despite the current market, land values are still rising owing to the lack of good sites."

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