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North-West's second-largest warehouse deal closes

North-West's second-largest warehouse deal closes

A 140,000 sq ft Stockport warehouse deal is being hailed as the North West’s second-largest transaction this year.

Chilli Apparel, a multi-brand fashion trader, has taken 145,000 sq ft in Bredbury in a year in which the shed scene in the region has failed to sparkle.

Acting on behalf of Renold PLC, WHR Property Consultants and joint letting agent, Lambert Smith Hampton has let Chain Point – a 145,000 sq ft modern warehouse. Chilli Apparel has taken a 10-year lease on the building at £3.75 a sq ft as part of its expansion plan.

The largest deal so far was Amazon’s 271,000 sq ft facility at Manchester airport.

John Sullivan, head of industrial agency at Lambert Smith Hampton, said: “There is a real shortage of properties of this mid-size and big-box, especially around Manchester and Cheshire. Until there is more speculative development of industrial units of this type, we can only expect prices to go up.”

In a separate deal, Morgan Martin and Aherne Property Consultants acting on behalf of Moorcot Property have let the 130,000 sq ft Alpha warehouse at Walton Summit Road, Walton Summit, Preston to a third-party logisitics operator.

Charles Bell of Morgan Martin said: “There was significant interest in the property prior to the existing lease expiring and as a result have been able to agree a new letting quickly to a North West third-party logistics operator who will be running a dedicated contract from the building. A new lease was agreed at close to the asking terms of £3.95 a sq ft.”

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