Cabot Corporation’s 13-acre site sold
PROPERTY agents Jones Lang LaSalle has sold chemical firm Cabot Corporation’s former manufacturing site in Dukinfield, in Greater Manchester, for an undisclosed sum.
Located in the heart of East Manchester’s main industrial estate, the site has been acquired by Stirling Lloyd, advised by GVA Grimley.
The site comprises a mixture of buildings ranging from offices, laboratories and canteen, pump house, gate lodge and a number of warehouse buildings totalling approximately 147,630 sq ft on a nine acre site on the east side of Gate Street.
It also includes approximately four acres on the west side of Gate Street which is earmarked for future development.
Phil Morley, associate director of Jones Lang LaSalle’s national industrial and logistics team in Manchester, said: “We generated strong interest for the site which culminated in a number of serious offers being made.
“Even though this was not a straight forward sale, the flexibility of our client allowed us to work closely with the purchaser to establish appropriate terms.
“The growth in occupier activity witnessed over the first quarter of this year has helped reduce vacancy levels in the North West.
“With the few leasehold and freehold units remaining in this size bracket, this could lead to developers to start contemplating design-build warehouses once again.”
