Ergo completes Oldham deal with Iceland subsidiary

Inspired Global Cuisine will occupy a 369,000 sq ft unit for 15 years, after terms were agreed with Aver Property, a joint venture between NFU Mutual and Ergo Real Estate.

Taken with a 10-year deal with Therco-Serck for 25,387 sq ft at the final available unit at Ergo Park Sheffield, the deal takes space let across the Aver portfolio over 1m sq ft in a year.

The deal had been trailed in autumn 2024, when planning permission was secured at the site, permitting a change of use to a food distribution hub with office space attached. A power upgrade was also signed off. Initial development had taken place in 2022.

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The unit, on Lydia Becker Way in Chadderton, amounts to 369, 251 sq ft.

James Jepson, investment director at Ergo Real Estate, said: “Taking our leasing activity past the million sq ft milestone in 2024 is testament to the work across the Ergo team and the quality of spec industrial units the fund has delivered.

“In what has proven to be a difficult occupational market the fund has consistently performed to execute these leases and delivered an excellent line-up of tenants across the industrial portfolio.

“We are delighted to have collaborated over the past year with key occupiers, local councils and national infrastructure bodies to enable the delivery of these new leases.”

Agents representing Aver on Ergo Oldham were CBRE, Cushman & Wakefield and DTRE.