Deal sealed for £3m+ sale of 100,000 sq ft Greenside Trading Centre in Droylsden
Nolan Redshaw has advised on the disposal of Greenside Trading Centre, a prominent multi-tenanted business complex in Droylsden, Manchester, achieving a sale price in excess of the £3m asking figure.
The property, spanning 100,000 sq ft of lettable space, generated significant interest from investors during a highly competitive marketing campaign.
Its strategic location, just four miles east of Manchester city centre and 1.5 miles from the M60, made it an attractive prospect, highlighting the continued demand for high quality, city-fringe commercial assets.
The purchaser, Up North Developments, plans to build on the success of the site. A company spokesperson said: “The Greenside Trading Centre is a fantastic addition to our portfolio. Its strong tenant mix and excellent location present both solid income streams and significant potential for future growth.
“We’re excited to take ownership of this thriving asset and look forward to enhancing its value further.”
Greater Manchester-based Nolan Redshaw acted on behalf of the vendor on the deal.
Harry Bowers, Agent at Nolan Redshaw, said: “This transaction highlights the growing demand for city-fringe locations, where investors are increasingly recognising long term value. We are pleased to have secured a positive outcome for our client, matching the right purchaser with the right opportunity.”
Jonathan Pickles, Agent at Nolan Redshaw, said: ” We’re proud to have delivered an excellent result for our client.
“The purchasers will benefit from a gross yield of circa eight per cent across 28 Individual units, 14 storage containers and yard/parking areas.
“Due to Greenside Trading Centre’s town centre location, the new owners do also benefit from a realistic development potential on the 2.5-acre site.”
The sale of Greenside Trading Centre reflects a robust regional investment market and demonstrates investor confidence in commercial property assets with strong income streams and development potential.
