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Sunday, February 25, 2024
PropertyNETWORK SPACE ACQUIRES INDUSTRIAL ASSET

NETWORK SPACE ACQUIRES INDUSTRIAL ASSET

Network Space has exchanged contracts for the purchase of a prime 11.4 acre (4.6 ha) site in South Manchester.

The site on Atlantic Street in Altrincham, which comprises 220,000 sq ft of industrial warehouse space, was until recently the HQ and trailer manufacturing site for the Cartwright Group. Acquired from the administrators for an undisclosed sum, Network Space will refurbish and redevelop the site to meet existing and future demand for industrial property.

Richard Ainscough from Network Space, said: “At its peak some 700 people would have been employed by Cartwright in Altrincham. The closure of the business has undoubtedly left a hole in the local economy. There is a well-documented shortage of light industrial space in the urban environment. We are specialists in industrial development and regeneration, and will provide much-needed space for small and mid-box urban logistics, as well as traditional multi-let industrial estate uses. This will hopefully go some way to create new jobs at the site by attracting a mix of local, regional and national occupiers. We aim to be on site as soon as possible.”

Network Space expects to have new space ready to occupy next year.

The site lies eight miles south of Manchester City Centre and a mile from Altrincham Town Centre in the well-established Broadheath industrial area. It is three miles from the M56 and offers easy access to the M6 and M60.

Savills and Gateley acted for Network Space, B8, SIA Group and Addleshaw Goddard acted for the administrators.

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