Greater Manchester industrial park acquired in £13.75m deal

Globe Industrial Park in Tameside has been acquired by real estate investment firm Paloma Capital for £13.75m.

Asset management company Collingwood Rigby, working alongside the Manchester capital markets team of commercial real estate firm CBRE, secured the sale on behalf of CBRE Global Investors.

The 22-unit Globe Industrial Park comprises 543,983 sq ft set on 29 acres of land in Dukinfield, Greater Manchester. Existing occupiers include textiles firm Turner Bianca Plc, power generation services company UK Power Reserve Limited and storage business Parker International Limited.

The industrial park currently generates an annual rent of around £1.3m.

The director of capital markets at CBRE’s office in Manchester, Rob Woods, said; “Globe Industrial Park has particularly strong tenant retention and offers excellent opportunities to drive future rental income through active asset management.

“The sale confirms the growing demand for well positioned industrial accommodation close to Manchester City Centre as the weight of demand and limited supply in the North West region creates upward pressure on rental levels.”

Estate agents Savills represented Paloma Capital during the transaction.