Valad Europe trades Broadway 21 units in Oldham

David McCourt

The multi-let real estate investment manager has sold Unit 1 and Unit 2 for a combined sum of £10.7m.

The 184,000 sq ft Unit 1, let to Great Bear Distribution, a logistics and warehousing business, was sold to Stellar Properties for £8.9m.

The 41,000 sq ft Unit 2, recently let to the gaming machine supplier Global Draw, was sold to Langtree Group for £1.8m.

Broadway 21 is a 226,000 sq ft warehouse facility with ancillary office accommodation located in Oldham's Broadway Business Park.

Rob Howe, head of UK real estate of Valad Europe, said: "In today's commercial real estate environment, the ability to sell assets at the right time is equally important as being able to acquire assets at a good yield.

"We took the decision to trade Units 1 & 2 at Broadway 21 following the completion of our business plan for the asset which included securing a new tenant for Unit 2."

Joiner Cummings advised Valad Europe on the sale.

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