Network Space has appointed B8RE to market Broadheath Networkcentre, the prime new-build industrial estate in Altrincham.
Broadheath Networkcentre is a brand-new, multi-let industrial estate comprising 206,121 sq. ft. of high-quality accommodation.
The estate is located on an 11.41-acre site in Altrincham, with primary frontage on Atlantic Street, a well-established commercial location offering a mix of industrial, trade, office and retail usses.
Network Space acquired the site in 2021 and brought forward plans for a brand-new industrial scheme. Completed in February 2024, the Broadheath Networkcentre scheme comprises 25 high-specification industrial units ranging from 2,080 sq. ft. to 41,738 sq. ft. across three terraces, and two detached units.
With 67% of the site let or under offer, the development boasts a variety of strong covenants across a range of different sectors, including Maersk, National Trust, Options Greathire, Xpand Logistics, Socotec and Torque Golf.
B8RE has been instructed to seek offers above £43,060,000, subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 5.50%, reversionary yield of 6.14% and a capital value of £209 per sq. ft.
Altrincham sits within a principal commercial location in South West Manchester, with immediate access to the A56 and M56 motorway, which provides excellent connectivity to Manchester city centre and Manchester Airport.
Manchester Airport in particular, which is only 15 minutes’ drive away, has already led to strong interest in the scheme, with the two largest units being let to companies directly linked to air freight.
Simon Wood, investment director at B8RE, commented: “Greater Manchester is the North West’s most significant commercial hub, with exceptional motorway connectivity and a major airport offering international reach for prospective tenants.
“Situated at the heart of this first-rate transport infrastructure, Altrincham is a thriving place to do business. This is demonstrated by the high-profile tenants that have already chosen Broadheath Networkcentre to locate their operations, including companies that required proximity to the airport in order to trade globally.
“Due to restricted land supply in the area, there is an acute shortage of new, smaller industrial and trade counter schemes in Altrincham and South Manchester in general. The limited supply, urban location and connectivity attracts excellent demand, resulting in strong rents.
“Looking at nearby Trafford Park, which is achieving rents up to £19.80 per sq. ft., rental levels in Altrincham are forecast to follow suit, with this exceptional site ready to meet demand.”
Stephen Barnes, managing director of Network Space Developments, added: “Broadheath Networkcentre is one of our flagship schemes and one that we have very carefully designed and executed. Delivering this new scheme so quickly on a site that had been the subject of a business administration with the consequential loss of jobs and investment was especially important to us.
“We’ve worked very closely with Trafford MBC and others to ensure that we developed a first-class scheme that delivers the very best outcomes for all stakeholders. We’re confident that we’ve achieved that objective, and the quality and specification of the scheme has meant we’ve been able to attract a large number of exceptional businesses into the borough.”
All units are built to a BREEAM Very Good standard and rated EPC A. Each property benefits from electric roller shutter doors and partially glazed frontages; pitched and insulated metal clad roofs incorporating LED lighting; floor loading of 50Kn/m2; eaves heights up to 10 metres. To further enhance the sustainability credentials of the scheme and significantly reduce the embodied carbon, recycled steel and concrete was utilised in construction.
The site also includes dedicated car parking with electric vehicle charging points, alongside on-site bike storage.
For more information, please visit: www.b8re.com/