Property Alliance sells Gorton site

PROPERTY Alliance Group (PAG), the North West developer founded by David Russell, has sold an industrial unit in East Manchester for £425,000.

PAG acquired the 11,300 sq ft unit in Gorton from administrators and sold it on to M Khan Properties following competitive bids.

The site will now be used as an MOT garage.

PAG’s Andrew Peak said: “The Gorton site proved to be a gem attracting strong interest due to its road side position and being adjacent to the Manchester City Council depot.

“We are delighted to have created a stir in the market with this strong sale considering the difficult financial circumstances. It will hopefully instill some market confidence and proves that if the right property becomes available, positive deals can be achieved.”

Knight Frank and King Sturge were acting agents on the site. Manchester-based PAG has a nationwide development programme and values its portfolio at £240m.