Member Article

Network Space acquires major building in Trafford Park

Network Space, the North West based commercial real estate investment, development and management group has acquired, refurbished and let a modern 38,000 sq ft industrial building on Guinness Road in Trafford Park.

Network Space acquired Unit C/D Guinness Circle from Global Logistics for £2.52m and immediately agreed a ten-year lease with Cosentino, the Spanish multi-national producer and distributor of architectural surfaces at £5.75 per sq ft. After a minor refurbishment to clean and repair fixtures in the building, Cosentino have now taken occupation and will undertake a six-month fit out for what will become their Northern UK distribution centre.

The acquisition complements Network Space’s purchase of the adjacent Unit B in May 2012, a 27,000 sq ft industrial building on the same scheme occupied by CCF Ltd, the insulation and interior building products division of Travis Perkins.

Martin Mellor, Investment Director of Network Space said: “We are delighted that we have been able to assemble a flagship investment that is truly institutional – the tenants, location and buildings themselves are of the highest quality. We continue to seek similar sustainable investments and in a strengthening market such as this we acknowledge the need to work that bit harder to achieve best value”

Network Space was represented by CBRE, Manchester.

This was posted in Bdaily's Members' News section by Robert Allat .