Listen to this article here
One of the largest vacant industrial units in the North-west is in line for a major refurbishment after the Stockport building was purchased by Birmingham-based developers, Mercia Real Estate.
Mercia Real Estate purchased the 160,098 sq ft manufacturing and warehouse facility on Kenwood Road in Reddish, with a view to make significant investment into the property in 2022. Acting on behalf of SCC DB Holdings Limited, Davies Harrison Real Estate and Siddall Jones sold the building, one of the largest industrial units in Stockport, for £7.25 million.
The self-contained property, which is situated on Kenwood Road in Reddish, is to be comprehensively refurbished and marketed to let with Davies Harrison and Siddall Jones retained as the joint letting agents.
Samuel Clark of Mercia Real Estate said:
“We are extremely pleased to have marked our entrance into the North West industrial market. We have acquired the building with full vacant possession which provides the perfect platform for us to showcase our asset management expertise to a new geography where we will be making further significant investments in 2022.”
Rick Davies of Davies Harrison added:
“Opportunities of this magnitude rarely come to the market and as such, this was highly sought after by both occupiers and developers. This is the only warehouse of this size currently available for immediate occupation within the M60 orbital.
“Over the last couple of years, demand for the industrial and warehouse sector has grown exponentially and we are already talking to a number of potential occupiers about this site.”
Mercia Real Estate was unrepresented in the deal.