Cheshire based investment and development company, Quorum has acquired a 103,781 sq ft warehouse on Broadway Business Park in Oldham from Standard Life for circa £6 million. Davies Harrison Real Estate and BC Real Estate have been appointed as the joint letting agents to market the vacant unit at a quoting rental level of £5.65 per sq ft.
Broadway Business Park is one of the most established logistics and distribution destinations in Greater Manchester situated just off junction 21 of the M60 motorway. Quorum also recently acquired the neighbouring unit off market for £1 million, which is let to Wincanton Logistics.
Paul Wardle, Managing Director of Quorum, comments: “We are very excited about this latest purchase as we look to actively build our industrial portfolio. There is currently a dearth of available industrial units with such good motorway access in the region and to have acquired one of the largest available buildings on the market is a real coup for us. As industrial specialists, we have an unrivalled understanding of the industrial market and we believe that there is currently very little in the area that can compete with this building.”
Savills acted on behalf of Standard Life.