Property Capital buys eight acres in Stretford 

The investor has acquired a vacant RAC call centre and a former National Grid gas holder depot off Thomas Street. 

Property Capital bought the two plots, totalling eight acres, in two separate transactions. 

The investor bought the 3.45-acre former gas holder from the National Grid, a deal brokered by BNP Paribas. 

Meanwhile, the RAC sold its former call centre to Property Capital after relocating to Salford Quays. The site sits on a five-acre plot and is allocated for employment uses in Trafford Council’s Unitary Development Plan. CBRE advised on the deal. 

The Stretford sites form part of Property Capital’s growing portfolio, which includes the 140-acre Leyland Test Track site in South Ribble. 

Theplots could be redeveloped into residential or commercial and a planning application could be lodged this year, according to Property Capital. 

Jim Hennessey, the company’s chief executive, said: “This is another strategic acquisition for the business as part of our drive for growth and investment through 2024. It complements our other landholdings in the North West and builds upon the successful delivery of our 140-acre mixed-use Leyland Test Track site”.