Joint venture buys Bury retail site

PROPERTY consultancy Noland Redshaw has announced the sale of a large site in Bury which will be converted into large retail units.

The firm has sold a 96,000 sq ft unit owned by engineering firm Senior Hargreaves to a joint venture between RED Partnerships and Derbyshire-based developer Peveril Securities.

It is believed to have signed pre-let agreements with three national retailers for the site, which already had planning permission for non-food retail on the 2.2 acre site.

The names of the new tenants will be announced shortly.

“This is another good news story for Bury, after the successful launch of The Rock Scheme in July 2010,” said Paul Nolan, director of Nolan Redshaw.

“This scheme signifies to further success for the town.”

He added that Senior Hargreaves is already using the proceeds to build a new manufacturing plant elsewhere in Bury.