Tameside industrial estate sold for £9.3m
PROPERTY management firm Valad has sold the Shepley North and South Industrial Estate in Audenshaw, Tameside, to M7 Real Estate for £9.3m.
Valad sold the of the 400,000 sq ft industrial estate was completed on behalf of The Industrial Trust.
The estate is six miles east of Manchester city centre and is close to both the M60 and M67 motorways. It has 39 warehouse buildings on two adjacent sites, which currently generate around £1.1m a year in rent. A six acre plot of development land was also included in the sale.
Rob Howe, Valad’s head of UK real estate, said: “This latest disposal follows the completion of our business plan for the Shepley North and South Industrial Estate, which included a series of value adding initiatives.
“Having carefully considered the options for the estate, we recommended that a sale was in the best interests of investors in The Industrial Trust.”
Valad was advised on the sale by Joiner Cummings and Whitaker Horton while M7 Real Estate was advised by Tudor Toone.
The Industrial Trust is a UK multi-let industrial fund asset managed by Valad and fund managed by Rockspring Property Investment Managers.
