By Liza Helps, Property Editor, Logistics Matters

THE DEAL immediately follows comprehensive renovations at the property, which delivered an increased power capacity and achieved an improved EPC A rating.

Realterm’s Director of Asset Management, Europe Leonie Kierkels said: “This investment and successful leasing reflect Realterm’s continued confidence in UK and European logistics markets, where we are actively growing our presence and pursuing supply-chain-critical assets that drive genuine operational efficiency.

“Greater Manchester’s constrained supply pipeline and strong demand for final-mile delivery infrastructure make it one of the UK’s most compelling logistics submarkets, and Northbank 40 is a strong example of the opportunities we continue to find there.”

The 36,392ft2 final mile delivery hub sits on a 3.80-acre site and boasts 31,689 ft of warehouse space, 4,430 ft2 of office space, and a 273 ft2 gatehouse. It has 34 level access doors, three dock-level doors, 80 car parking spaces with only 19% site cover. It is positioned just off the A57 in Irlam, with access to the M60, M62, and M6 motorways.

The refurbishment program delivered a series of comprehensive improvements to the facility, including a full roof re-coating, new loading doors to the front elevation, new dock levellers, yard repairs and a full Cat A refurbishment of the offices and circulation areas. The transition to electric VRF climate control within the offices and replacement of external halogen lighting with LED contributed to the facility achieving an improved EPC A rating.

Realterm Head of Asset Management UK, Sophie Dracup, said: “Securing this new letting ahead of the completion of our refurbishment works is a true testament to the strength of occupier demand,”

The tenant will move into the facility this month as the refurbishment is completed.

Box4 Real Estate and  B8RE were joint agents.