Two major warehouses at Fairhills Industrial Estate have been sold, reflecting high demand.
The sale price of £145 per sq ft underscores the value of such properties in today’s market.
Prime Industrial Real Estate Transaction
Recently, in a noteworthy transaction, two warehouses situated on Fairhills Industrial Estate in Irlam, covering a total of 29,142 square feet, have been successfully sold. This strategically significant sale was facilitated by Davies Harrison Real Estate. Representing a private client, the properties fetched approximately £145 per square foot. These sales underscore the prevailing high demand for quality industrial premises in the market.
New Occupants and Their Relocation
The larger of the two units, measuring 16,261 square feet, has found its new occupant in Bradshall Removals. This company made the strategic decision to relocate from its previous site in Trafford Park as the lease expired, seeking a more advantageous long-term investment. The move represents a forward-thinking approach in enhancing their operational efficiency by securing a freehold property.
Wellsolid has acquired the adjacent unit, comprising 12,881 square feet. The firm relocated its operations from the southern UK region, motivated by the superior logistical advantages offered by this new site. Both units boast semi-detached structures with substantial, self-contained yards, making them highly appealing for such businesses.
Market Dynamics and Sales Process
The sale process for these coveted units was marked by exceptional interest, leading to a best bids scenario to maximise returns for the seller. The market for industrial property, particularly freeholds, is notably competitive, as noted by Rick Davies of Davies Harrison.
“Due to the strong demand received for both properties, we took the sale to a best bids format before agreeing the deals with the two successful companies,” stated Davies. The robust demand highlights a trend where industrial occupiers are actively pursuing ownership over leasing options.
Future Opportunities and Market Outlook
Following the success of these transactions, Davies Harrison is set to bring another opportunity to the market. A 15,069 square foot unit on Tallow Way is slated for sale, representing an attractive prospect for potential buyers. Currie Solutions, the current client, anticipates significant interest based on prevailing market conditions.
The current industrial property landscape suggests a sustained demand trajectory, driven by businesses seeking to secure assets that offer greater operational autonomy and long-term financial benefits.
Strategic Relocation Decisions
Businesses like Bradshall Removals and Wellsolid have demonstrated strategic foresight by transitioning to freehold properties. This decision is increasingly popular amongst companies aiming to minimise reliance on leasing and to attain greater financial predictability.
A shift towards ownership enables firms to invest in their facilities and tailor them to specific operational requirements, enhancing efficiency and competitiveness.
Impact on the Local Economy
The acquisition and occupation of these warehouses are expected to have positive ripple effects on the local economy. New business operations bring forth job opportunities and contribute to the economic vitality of the Irlam region.
Such developments not only foster employment but also stimulate supporting industries, reinforcing the community’s growth prospects.
Conclusion of Sale
The completion of these sales not only showcases the dynamic nature of the industrial property market but also affirms the strategic moves companies are willing to make to strengthen their positions. Through successful acquisitions, firms like Bradshall Removals and Wellsolid continue to align their strategies with market opportunities, exemplifying a broader trend within the industry.
The transactions underscore a trend of increasing demand for ownership in industrial real estate, highlighting strategic shifts.
This shift is driven by businesses seeking ownership for operational autonomy and long-term stability.