Greater Manchester industrial estate on market for £11.7m
Newton Business Park offers nearly 300,000 sq ft of industrial space on 10 acres in Hyde.
Carrick Real Estate is marketing the freehold on behalf of a private property company. The agent is accepting offers of more than £11.7m, which would represent a net initial yield of 7.5%.
Fronting Talbot Road, Newton Business Park is a last-mile logistics location with more than 45 units totalling 298,687 sq ft.
These spaces, which are self-contained, range from 560 sq ft in size to 44,000 sq ft. Most are rented, although there are eight units currently vacant.
The current owners of Newton Business Park take in £1m a year in rent. That’s roughly £3.37/sq ft.
The industrial estate backs onto a five-acre brownfield site currently under development by Wain Homes. The housebuilder is aiming to build 64 homes on the plot. Construction is set to begin soon.
