Colliers CRE advises on £4.2m deal

THE Manchester office of Colliers CRE has advised London fund Tritax and Cedarwood Asset Management on its £4.2m purchase of an industrial unit in Chorley.

The 106,000 sq ft building on 8.9 acres in Carr Lane is currently let to Telent Technology Services on a 99-year lease with 56 years unexpired.

It is Tritax and Cedarwood Asset Management’s first purchase in a new £100m joint venture.

Mike Walker, head of the Manchester office of Colliers CRE, said: “The industrial investment market in the North West is certainly beginning to show signs of improvement with the supply of quality investments very tight.

“We are therefore delighted to have worked with Cedarwood and Tritax in securing this opportunity which offers secure long term income but with the potential of a redevelopment upside.”