P3 reports gaming firm’s double deal
Manchester commercial property agency P3 Property Consultants LLP has pulled off a two-property deal to the same tenant at Oldham's Broadway Business Park.
In a carefully coordinated transaction and acting for two completely separate building owners, P3 Property Consultants have simultaneously let the 25,500 sq ft Unit 1, the last remaining building at Gladman Developments' office scheme at Howarth Court, and a 41,995 sq ft industrial unit at Valad's 226,000 sq ft Broadway 21 scheme. The lettings mean both developments are now fully occupied.
The tenant for both buildings is the Global Draw, a supplier of gaming content and machines in Europe and a wholly owned subsidiary of the Nasdaq-listed Scientific Games Corporation, which is relocating from nearby Ashton under Lyne following its acquisition of Barcrest Group.
Andy Hartwright of Gladman commented: "We are extremely pleased that Global Draw chose our business park to relocate to, they have taken a long-term lease with us and will be employing up to 170 people which is great news for the local economy."
Rob Howe, head of UK Real Estate at Valad, added: "We are delighted that following the arrival of Global Draw at Broadway 21, the building is now fully let and fulfilling its income generating potential for our Duke joint venture. To secure the letting of this high quality industrial asset is a great result in a challenging market."
Philip Meakin, partner at P3, handled the transaction with colleague Janine Wood. Meakin said: "Double acts like this are never easy to perform even in a good market and it is particularly pleasing for us to be able to deliver an excellent result for two long standing clients. Even in a difficult market Oldham Broadway has again proved its reputation as the diva of East Manchester's business locations."
Joint agents with P3 Property Consultants were CBRE and Colliers International. Global Draw were advised in both instances by Brentford based Vokins Chartered Surveyors.