St Modwen delivered the first phase of units at Chamberhall. Credit: via archive

St Modwen sells Chamberhall unit

The listed developer has sold an 11,000 sq ft unit at the Bury business park to logistics and distribution firm Youthstar for an undisclosed sum.

Youthstar is relocating from Robert Street in Cheetham Hill in Manchester. 

Nolan Redshaw acted for St Modwen and Youthstar, which has signed a 250-year lease on the unit, was unrepresented. 

The first phase of development at St Modwen’s 17-acre Chamberhall Business Park completed in May and involved the delivery of 130,000 sq ft of warehouse space across 14 units. 

The Youthstar sale leaves two 11,000 sq ft units unoccupied. 

Last month, St Modwen let 26,000 sq ft to retail promotion specialist Spot Promotions, which took 11,000 sq ft, and fabrics importer Premier Textiles, which signed for 15,000 sq ft.

Other occupiers at Chamberhall include sports retailer JD Sports and courier TNT. 

Nolan Redshaw and Knight Frank are the agents for Chamberhall Business Park. 

St Modwen published a trading update yesterday that reported the firm was “well-positioned” going into 2021 after “strong operational results for 2020”. 

Chief executive Sarwjit Sambhi said: “Our underlying performance has been in line with the board’s expectations. While the near-term economic outlook remains uncertain, momentum has continued to build.

“So, with a strong forward order book in housebuilding, sustained demand for industrial and logistics space and a solid capital base, St. Modwen is well-positioned going into 2021.” 

The company has a logistics pipeline of 18m sq ft and has disposed of assets totalling £154m this year, according to the update. 

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