Altrincham industrial hits market with £43m price tag
A buyer is wanted for Network Space Developments’ 206,100 sq ft Broadheath Networkcentre industrial estate, which fronts onto Atlantic Street.
The developer is seeking offers northwards of £43m for the complex. A £43m purchase would reflect a net initial yield of 5.5% and a capital value of £209/sq ft.
Broadheath Networkcentre sits on 11.5 acres on the former Cartwright headquarters in Altrincham. It completed in February, with recycled steel and concrete utilised in its construction.
The scheme, designed by AEW Architects, comprises of 25 industrial units of between 2,100 sq ft and 41,700 sq ft. All of the spaces are designed to be BREEAM Very Good and achieve an EPC A rating.
“Broadheath Networkcentre is one of our flagship schemes and one that we have very carefully designed and executed,” said Stephen Barnes, managing director of Network Space Developments.
“Delivering this new scheme so quickly on a site that had been the subject of a business administration with the consequential loss of jobs and investment was especially important to us,” he continued.
“We’ve worked very closely with Trafford MBC and others to ensure that we developed a first-class scheme that delivers the very best outcomes for all stakeholders. We’re confident that we’ve achieved that objective, and the quality and specification of the scheme has meant we’ve been able to attract a large number of exceptional businesses into the borough.”
Tenants for Broadheath Networkcentre include Options Greathire, Maersk, National Trust, Xpand Logistics, and Torque Golf. Approximately 67% of the scheme is let or under offer.
B8RE is the agent for the estate. Investment director Simon Wood shared why Broadheath Networkcentre’s location was a major asset.
“Situated at the heart of this first-rate transport infrastructure, Altrincham is a thriving place to do business,” Wood said. “This is demonstrated by the high-profile tenants that have already chosen Broadheath Networkcentre to locate their operations, including companies that required proximity to the airport in order to trade globally.
“Due to restricted land supply in the area, there is an acute shortage of new, smaller industrial and trade counter schemes in Altrincham and South Manchester in general,” Wood continued.
“The limited supply, urban location, and connectivity attracts excellent demand, resulting in strong rents. Looking at nearby Trafford Park, which is achieving rents up to £19.80 per sq. ft., rental levels in Altrincham are forecast to follow suit, with this exceptional site ready to meet demand.”
