£2.2m mill sale completes in spate of deals for real estate firm

Chadderton Mill

Manchester real estate business Davies Harrison has sold a Grade II-listed mill in Oldham for £2.2m.

The 249,517 sq ft site sits on five acres of land in Chadderton.

Instructed as sole agents by Reliance Properties, Davies Harrison agreed the sale to Evermark Property Group who have granted a leaseback of 12 months to the existing occupier, Manchester Storage, extending its lease by a further 12 months at £220,000 per annum.

Evermark, a local property company, plans to ultimately move into part of the mill as part of its long term expansion strategy.

Rick Davies, of Davies Harrison, said: “This was a complex sale for a Grade II-listed building, particularly as it was agreed during lockdown.

“However, we were able to negotiate a deal that suited all three parties involved.”

He added: “We are seeing a real surge in demand for not only brand new accommodation, but second-hand cost effective accommodation, particularly for storage and distribution facilities.

“We have completed a number of mill sales in the last few months, developing a unique approach to this niche sector of the property market.”