Wigan trade unit sets new rent record after 10-year lease deal
An industrial unit in Wigan has changed hands, setting new rent records for the area.
The 3,000 sq ft unit on Wigan Trade Park was snapped up within less than a week of the previous occupier moving out.
Owner CRT Property, the wholly owned subsidiary of the Coalfields Regeneration Trust, let the property to GSF Car Parts.
B8 Real Estate acted as letting agents.
GSF agreed a 10-year lease at a rent of £10 per sq ft, a 25% uplift on the previous level and a new record rent for the area.
The development, which was completed in 2015 by CRT Property, was fully let within months of its launch.
Situated on Manchester Road, within a mile of the town centre, Wigan Trade Park comprises five trade counter units totalling 17,500 sq ft of space.
Other occupants include Paintwell, Screwfix and UK Storage Company.
Established in 1999 as The Parts Alliance, GSF Car Parks offers an extensive range of parts, accessories, oils and tools from more than 180 stores across the UK. The new unit will replace its previous premises in Wigan.
Tom Marriott, of B8 Real Estate, said: “The rent achieved on this unit reflects the popularity of Wigan Trade Park with occupiers and the demand for high quality trade counter units. We are delighted to have been able to agree a new headline rent and complete the handover within just four days of the previous tenant vacating.”
Tom Graham, property and asset manager for CRT Property, said: “This is another successful outcome for Wigan Trade Park, which has proved consistently popular with occupiers since its launch.
“Not only has this development filled a gap in the market for trade counter space – it has also created dozens of new jobs in the area.”
Knights provided legal advice to the landlord.