Approval granted to reconfigure former Cheshire business park
Planning consent to repurpose a 105,000 sq ft business park in Altrincham has been granted for London-based Paloma Capital.
It acquired Blue Chip Business Park in 2022, as part of its urban logistics acquisition strategy throughout the UK.
Paloma rebranded the site Atlantic Trade Park and its proposed scheme will deliver trade and warehouse units ranging from 900 sq ft to 26,000 sq ft.
With redevelopment works due to commence this autumn, Unit Six is to offer a gated secure yard and 22,806 sq ft of space with a mezzanine providing a further 5,834 sq ft of accommodation.
Units Two and Ten provide 6,825 sq ft and 4,369 sq ft respectively. Four starter units from 841 sq ft to 2644 sq ft have also been released in the Business Centre.
Jeremy Thiagarajah, Director for Asset Management and Investment at Paloma Capital, said: “The works will revitalise this established estate and offer trade and consumer facing occupiers the most prominent units on Atlantic Street, Altrincham’s main commercial throughfare, joining our existing occupiers, Screwfix, ATS Euromaster, and Emporio Ceramica.
“This site fits well with our acquisition strategy for under-rented and undercapitalised assets in strong locations which are in need of investment to improve occupancy and capture rental growth.”
Atlantic Trade Park is situated next to Altrincham Retail Park at the junction of Atlantic Street and the A56.
It is served by comprehensive public transport options with Manchester city centre just eight miles away.
Representing agents are the Manchester offices of Cushman & Wakefield and Roberts Vain Wilshaw (RVW) Chartered Surveyors.
Joseph Wilshaw, Principal Director at RVW, said: “The rebranding to Atlantic Trade Park and extensive external remodelling will certainly raise the profile of this prominent estate and entice new occupiers to join the high profile names already on site.
“The varied high quality space availability, from just 841 sq ft up to 28,640 sq ft delivers against strong demand in this particular area.”
Paloma Capital is a private equity real estate investor established in 2015 and wholly owned by its founding partners Joe Froud and Jack Pitman.
Paloma has raised approximately £640m of wholly discretionary capital from investors in Europe, the Middle East and North America, which is used to pursue targeted, niche UK investment strategies, frequently focused on smaller assets.
With a very ‘hands-on’ approach to asset management Paloma focuses on multi-let assets which provide opportunity to create additional value through carefully thought out and well executed business plans.
