B8RE acting on behalf of Cabot Properties has purchased 3 units at its Carrington Gateway development in Greater Manchester from Wain Estates in a £20m deal.
The high quality industrial and logistics development, totalling 167,000 sq ft, completed in 2020, and occupies a prominent location on Manchester Road.
The three units sit together on one side of the estate to the south of Porta Road and are currently occupied on long term leases by Hilti, Protective Packaging and Charles & Ivy.
Wain Estates’ Managing Director of Development, Jack Brister, said: “This is a very positive endorsement of the quality of the product we’ve created in the first phase of commercial development at the Carrington Estate.
“It is particularly encouraging given that we are currently making plans for future commercial phases at Carrington. We wish Cabot all the best with the management of the site.”
Michael Williams of Cabot Properties said: "We are delighted to have concluded this transaction on behalf of our Value Fund programme. It's a well-located asset with strong ESG credentials and a favourable occupational dynamic in the locality. We are continuing to actively seek both Core and Value Add opportunities to build upon our existing portfolios in the UK."
B8 Real Estate acted for Cabot Properties and the Manchester office of JLL for Wain Estates.
B8 Real Estate have recently being appointed join occupational and investment agents on the entire wider Carrington Estate comprising one of the UKs largest brownfield regeneration sites spanning 1,665 acres. As well as residential Wain Estates is ultimately aiming to deliver 3.5m sq ft of employment space on this strategic area located in Trafford and at the heart of Greater Manchester.
To date Wain Estates has secured consent for 1.2m sq ft of employment and 600 homes with further applications currently being determined.
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