More than 240,000 sq ft of prime industrial space has been successfully let at Kingsway Business Park in Rochdale by the Greater Manchester Pension Fund (GMPF).
The Kingsway Business Park has made significant strides with its Imperial scheme, securing tenants for two major units. Imperial165, which spans 165,696 sq ft, has been let to Cleland McIver, a prominent supplier of household textiles to UK retailers. Meanwhile, Imperial76, covering 76,418 sq ft, has been taken by Solotech, an international audio and visual technology company known for its work with high-profile clients such as Coldplay, The Killers, and Stormzy.
Located at junction 21 of the M62, these lettings mark a continuation of GMPF’s successful ventures at Kingsway. This follows the 2022 deal that saw Monarch330, measuring 328,000 sq ft, leased to global food giant Danish Crown. The new occupants, Cleland McIver and Solotech, now join a distinguished list of businesses at Kingsway, which includes Amazon, ASDA, Dachser, and JD Sports.
Joe Bostock, an industrial and logistics associate at JLL, highlighted the appeal of the new build scheme. “Imperial is a great example of a new build scheme that is an attractive proposition for occupiers looking for high quality, sustainable, and well-connected accommodation,” he stated. These lettings have set new record rents for Kingsway, demonstrating the high demand for top-tier industrial space in the area.
Councillor Gerald Cooney, Chair of the Greater Manchester Pension Fund, remarked on the broader impact of these developments. “This is part of GMPF’s long-standing successful programme of investing in Greater Manchester with the twin aims of delivering commercial returns to meet our pension liabilities whilst having a positive impact on the local economy, where the majority of our members live and work,” he explained. This dual focus ensures that the investments not only secure financial returns but also contribute positively to the community.
The Imperial scheme, advised by APAM, with JLL, Avison Young, and CBRE acting as joint letting agents, underscores the strategic importance of investing in high-quality and well-connected industrial spaces. Therefore, the successful lettings to Cleland McIver and Solotech reinforce Kingsway Business Park’s reputation as a premier location for both national and international businesses.
The achievement of these record lettings highlights Kingsway Business Park’s continued attractiveness to prominent businesses, driving economic growth and setting a benchmark for industrial developments in the region.
