Davies Harrison, acting on behalf of Revelan, has disposed of a 76,000 sq ft refurbished warehouse facility at Discovery Park in Stockport, to Rowlinson Knitwear for £3.1m.
The vacant building was bought as part of Rowlinson’s future expansion strategy. BC Real Estate represented the purchaser.
Rick Davies of Davies Harrison said: “This building was the final phase of Discovery Park, which was acquired by Revelan on a speculative basis and subsequently undertook a comprehensive refurbishment of the entire Park. Phase one – totalling 34,000 sq ft of warehouse space – was sold to Indupart at the beginning of the year, prior to completion of the refurbishment works.
“Revelan’s investment in Discovery Park has resulted in an immediate increase in interest from prospective occupiers at a time when there is a real shortage of good quality stock – particularly in Stockport.”
Discovery Park is located off Crossley Road, close to its junction with the A6. Access to the regional motorway network is via J1, J26 and J27 of the M60 motorway approximately two miles away.
Gary Chapman of BC Real Estate said: “This was a challenging acquisition given the lack of quality stock in this location and our client is employee owned so was extremely location specific. We are therefore pleased to have acquired Discovery Park, which was essential for the next phase of Rowlinson’s development as a business.”
JLL and Young & Co were the joint letting agents.
Source: Place North West