24th January 2019

Cheadle business park swaps hands for more than £5m

#Asset Management

Property Alliance Group has sold a south Manchester business park for £5,125,000 on behalf of Royal London Asset Management (RLAM).

Located in Cheadle, just over a mile from the M60, Hercules Business Park totals 35,204 sq ft and has been acquired by Leeds-based Crookshank Properties.

The site has been asset managed by Alliance since 2007 during which time four buildings spanning 22,343 sq ft have been sold to owner occupiers and the remaining four let to tenants, including Woodcroft Veterinary Group, Thermotech Solutions, WNS Global Services and DSG Financial Services.

Alex Thomas, development surveyor for Alliance said: “Working with agents GVA and JLL, we have secured significant sales and lettings at Hercules Business Park since we were appointed asset managers. This reflects the strength of the occupier market in south Manchester which is fuelling investment.

“The scheme now offers significant potential for rental growth as well as future development as also features amenity space at the front of the estate.”

King Street Commercial worked in partnership with Alliance to secure the sale.