Lettings latest: Easter Park, Haydock; intu Trafford Centre; 82 King Street; Metroplex Business Park, Salford

Blue Marble Asset Management (Blue Marble) has let a 16,000sq ft North West industrial warehouse unit to a leading textile recycling company.

Acting on behalf of Pemberstone Properties (No 1), the Birmingham-based specialist real estate asset management company let Unit 402, Easter Park in Haydock, Merseyside, to Bag It Up, a division of BIU Group (BIU), on a new 10 year lease at a rent of £96,264 a year.

BIU collects and recycles unwanted clothes, shoes and textiles in partnership with a number of charities, local authorities and commercial waste management companies via its patented recycling banks. It also operates from similar warehouse units in Huddersfield and Reading, while the recycling banks are manufactured at its unique, in-house fabrication unit in Halifax, alongside its head office.

Unit 402 is a modern industrial warehouse unit, situated on Haydock Lane, in Haydock Industrial Estate, adjacent to the A580 and Junction 23 of the M6 Motorway, between Manchester and Liverpool and approximately four miles north of Warrington. It was acquired by Blue Marble, on behalf of its investment client, in 2015, with a pro-active asset management strategy already in place.

Amy Haywood, senior property and asset Manager at Blue Marble, said: “Delivering a new 10 year lease was part of our plan for this investment when we first advised our client on the purchase. We deliver added value to meet our clients’ investment objectives by pro-active management to a pre-agreed strategy.”

B8 Real Estate advised Blue Marble. BIU was unrepresented.

Based in Birmingham’s Colmore business district, Blue Marble Asset Management is a real estate asset management specialist which presently has more than £60m of property assets under management.

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Khaadi, a Pakistani clothing company specialising in hand-woven products has taken a 2,281sq ft unit at intu Trafford Centre, after being advised by global real estate advisors Colliers International.

The international fashion, home and accessory retailer has plans to acquire 20 stores in the top UK markets and shopping centres, and the Trafford Centre store will be their sixth UK store, due to open in March 2017.

Lloyd Entwistle, director in Colliers International Retail Agency team, said: “Khaadi has continued its strong growth plans in the UK, and the North West is a key region to secure. The Trafford Centre is the region’s premier shopping centre, which makes it a perfect fit for Khaadi’s expansion strategy.”

Khaadi stores can also be found in The Bullring Birmingham, Highcross Leicester, Westfield Stratford, Westfield London and Westfield Bradford.

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BMO Real Estate Partners, acting for FCCPT (F&C Commercial Property Trust), has secured two new occupiers at 82 King Street, Manchester.

The deal means they have achieved a record rental level for the building of £32.50 per sq ft.

International private banking group Arbuthnot Latham has taken about 4,000 sq ft and Inflexion Private Equity has taken a 2,350sq ft office suite. Both tenants agreed five year leases.

82 King Street is a landmark 14-storey office building providing Grade A office accommodation located within the most prestigious address in central Manchester.

In the last 18 months, the building has attracted a number of new high profile occupiers including AXA, Channel 4, Lloyds Development Capital and Odgers Berndtson.

Daniel Plummer, head of offices, BMO REP, said: “We have had a great run of lettings over the last 18 months which is testament to the quality of the building and its unrivalled location. It is very pleasing to see the rents within the building growing, this mirrors the market in Manchester generally.”

Harry Skinner, senior surveyor at WHR acting on behalf of the landlord, said: “82 King Street has continued to flourish and is now almost fully let with only 1,943 sq ft remaining.  

“We are pleased to announce these lettings which demonstrate that financial institutions are still expanding into Manchester and the city centre market is still moving forward post-Brexit.

“Rental levels for quality refurbished buildings are increasing and we expect this trend to continue throughout 2017.”  
WHR, GVA and TSG are the retained joint letting agents for the building.

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Acting on behalf of Royal London, BC Real Estate has let a 12,759sq ft high office content, warehouse unit at Metroplex Business Park in Salford to lighting provider, Ricoman LED on a 10-year lease at £5.95.

Ricoman LED is set to relocate to the new premises as part of its expansion plan where it will now occupy a unit more than double the size of its previous premises in Trafford Park.
 
Metroplex Business Park is a 360,000sq ft estate located off Broadway in Salford, opposite Media City. Howlings Hodgson is the retained asset manager for the scheme.

John Barton, partner at BC Real Estate, said: “The popularity of this high profile business park, which offers excellent location and amenities close to Media City meant that we were able to secure a new occupier for the vacant unit quickly.

“We will have another similar unit coming forward to market shortly where we expect to receive a high level of demand again.”