Valad, the European multi-let real estate investment manager, announces that in the past three months it has let seven units totaling nearly 44,000 ft² (approx. 4,000 m²) at Parkway Point, Trafford Park, on behalf of The Industrial Trust.
Peugeot Citröen, the leading French automobile manufacturer, is planning to set up a Parts and Repair Center at the site having signed a five-year lease for Units 1 and 2, comprising 13,608 ft² of light industrial space. Other new tenants include Lupprians, a logistics company that will occupy Units 3, 4 and 5 for a 10-year term, comprising 23,915 ft², and M+H Logistics, which has signed a five-year lease on Unit 10, comprising 6,398 ft².
Unit 6 is also currently under offer and once this letting is finalized, only three units with varying sizes of 6,416 ft² to 12,832 ft² will remain available to let.
Located in Trafford Park, Greater Manchester, approximately one mile from junction nine of the M60, Parkway Point comprises 10 units of light industrial space ideally suited to occupiers that require good transport links to Manchester Airport and the rest of the UK.
Commenting on the lettings, Rob Howe, Head of UK Real Estate at Valad, said: "To have let so many units at Parkway Point in such a short space of time is a great result for both the estate and for The Industrial Trust. As part of Valad's active asset management strategy, we invested significantly in a program to refurbish the units and ensure they are suitable for businesses looking for good quality industrial space on the outskirts of Manchester."
The Industrial Trust is a UK multi-let industrial fund, asset managed by Valad and fund managed by Rockspring Property Investment Managers.
Valad was advised on the lettings by GVA and Knight Frank.
Source: Tavistock Communications