Textile firm buys Newton Heath mill for £1m
Sleepdown House, the synonymous former home of the stricken bedding firm, has been sold for £1,075,000.
The 170,000 sq ft former mill in Newton Heath, North East Manchester, was put on the market last year to repay creditors after the economic downturn led to a slump in orders and the firm, along with its sister companies Slumbalux and Betta-Quilt, went into administration.
Administrators Ernst & Young appointed Lambert Smith Hampton to handle the sale. The building has been acquired by an unnamed private individual for his business, T&A Textiles.
Andrew Aherne, industrial agent at LSH's Manchester office, said: "This deal indicates a revitalised desire for the freehold market, which has declined significantly as a result of the continued economic downturn.
"The successful disposal of this site to a similar company to Sleepdown will not only enable the release of value for creditors, it will also act as a stimulus for the local economy and will hopefully resurrect some of the jobs that were lost last year when Sleepdown's employees were made redundant."