Tandem Investments, the developer behind Stockport town centre office space, STOK, have sold their Trafford Park industrial building to a national food ingredients operator.
The scheme, TP18, comprises an 18,327 sq ft unit plus a 1.8 acre yard and was acquired by Tandem last year after undergoing a speculative and wholesale refurbishment. The completed refurbished unit was formally launched to the market in November last year and the sale to the undisclosed occupier was completed last month.
Chris Lloyd, Director at Tandem Investments, commented:
“We are pleased to have delivered the business plan so quickly. This is 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, who represented the occupier 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.”
Joseph Wilshaw, Director at Roberts Vain Wilshaw said:
“Delighted to have reached a successful conclusion on behalf of our clients having sold the site to them initially. Freehold opportunities in a prime location like Trafford Park are rare and we wish the buyer all the best in their new home.”
Tandem Investments were represented by Roberts Vain Wilshaw and Savills. CMS acted on the legals. GV & Co represented the purchaser.
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