Tandem ties up £5m TP18 Trafford Park deal
An undisclosed national food ingredients operator has sealed the purchase of the 18,300 sq ft unit and its 1.8-acre service yard.
Tandem Investments sold TP18 off Ashbridge for around £5m, according to sources close to Place North West.
Last year, Tandem bought the site in November for £2.84m and undertook a refurbishment, intending to return it to market.
GV & Co. represented the food ingredients company, which has subsequently purchased the site for roughly double Tandem’s initial investment.
Tandem Investments was represented by Roberts Vain Wilshaw and Savills, and CMS acted on legals.
The TP18 shed spans 16,400 sq ft and has a 1,900 sq ft office space across both the ground and first floor of the unit.
TP18 was given a full refurbishment with upgrades including a replacement roof and cladding, improved lighting, toilets, and a reset office space.
Chris Lloyd, director at Tandem Investments, said: “We are pleased to have delivered the business plan so quickly. This is a testament to acquiring assets in prime locations such as Trafford Park.
“We will redeploy the capital receipt into similar projects in the North West.”
Paul Mack, director at GV & Co., added: “We are delighted to have identified and concluded the purchase of such a rare freehold opportunity at Trafford Park.
“For a property of this size to have an eaves height of 10 metres and additional land for future expansion, presented a unique opportunity for our client.”
