GLP acquires nine-acre site at Trafford Park
GLP, a leading investor and developer of logistics warehouses and distribution parks, today announces that it has acquired a site in Trafford Park, south-west of Manchester city centre, totalling nine acres. The site is currently occupied by Tenmat, a leading manufacturer of advanced materials and components who is subsequently relocating to a site in Irlam at the end of 2022, and has significant redevelopment potential. Cushman & Wakefield advised Tenmat on the sale of the site and the relocation to Irlam. Ben Havery of Gent Visick advised GLP on the purchase.
Trafford Park is the premier industrial estate in the North West, covering approximately 1,940 acres and employing 40,000 people. Trafford Park was the first purpose-built industrial park in the world and remains one of the largest industrial parks in Europe, accommodating over 1,300 businesses including Amazon, Unilever, P&G and DHL. Manchester is also one of the UK’s most thriving cities for business and commerce, with the Greater Manchester economy having doubled in size since 2000.
The park has excellent connectivity by road, rail and air, strategically located within five miles of Manchester city centre and benefitting from good access to the national motorways network, Metrolink tram and light railway system, and airports including Manchester Airport (11 miles away) and Liverpool John Lennon Airport (27 miles away). The site is within a five-minute drive of junctions nine and ten of the M60 motorway, and the Manchester Freightliner Terminal also provides approximately 20 daily services to the UK’s deep seaports.
Adrienne Howells, Development Director at GLP, comments: „This is an exciting opportunity to acquire an attractive site in one of the largest, most well-connected logistics parks in the UK and Europe. The site lends itself to multiple redevelopment opportunities, including reformatting as a large single unit of around 200,000 SQ FT or splitting into an arrangement of smaller units. GLP has been extremely active in the UK recently and this latest acquisition and development intention indicates our confidence in the North West region.“
Rob Taylor, Partner at Cushman & Wakefield, comments: “This site represents one of the best opportunities to secure development land in a prime location in the region. There was strong interest in the site and we are delighted to have completed the sale on behalf of our client Tenmat and to achieve the result we have. We look forward to working with Tenmat and GLP over the coming months, as Tenmat starts the process of relocating to its new site in Irlam and a new future beckons for the Trafford Park site, with one of the most active developers in the UK at present.”