Three-way Rochdale transaction ‘good for everyone’

Richard Whitaker Ltd has acquired industrial units totaling 80,000 sq ft at the Mayfield Centre in Rochdale for £2.61m from CBRE Investors following the surrender of Anglian's lease on 60,000 sq ft of the property.

Gary Chapman of WHR Property Consultants, acting for Anglian, said: "This is one of the most significant industrial transactions that North Manchester has seen this year and further reinforces our belief that there is still a strong demand for the right product in the right location."

Littler Young acted on behalf of the vendors, CBRE Investors. Dean Young of Littler Young said: "This was a particularly clever transaction because the three parties involved were all happy with the outcome.

"My client, the vendor, received a price which reflected the fact that the tenant had topped up the offer from Richard Whittaker and therefore we were happy with the receipt. Anglian was able to surrender an onerous lease liability and Richard Whittaker Ltd was able to acquire a property at less than full market value."

Steve Barton of Barton Kendal advised Richard Whitaker. GVA was joint agent for Anglian.

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