7 Jul 2017

M7 Real Estate leases another 22,000 sq ft at Wingates Industrial Estate, Bolton

London, 5th July 2017 – M7 Real Estate, the pan-European investor and asset manager, announces that, acting on behalf of a major institutional fund, it has secured the letting of over 22,000 sq ft of warehouse accommodation at Wingates Industrial Estate in Bolton, Greater Manchester.

Westhoughton Roofing & Pointing Services have taken c. 22,850 sq ft at Unit 15 for a term of ten years, cutting the void at the estate by 15%. The unit underwent a significant refurbishment in 2016, and is now the third letting to complete at Wingates since the end of December 2016, during which time 27,000 sq ft was let across Units 17-18 and 21. Further refurbishments are planned for recently vacated units 2-3 and 19-20 in the latter part of 2017. The void at the estate is now 20%.

Wingates Industrial Estate benefits from links to the M61, connecting the M60 and M62 to the south, and A6 which provides access to central Manchester. The new tenants join an established occupier list with Hermes, Tesco and Lux365 already located on site.

Will Mitchell, Asset Manager at M7 Real Estate commented: “Following practical completion of the works at Units 15, 17-18 and 21 in August 2016, we have now completed three ten year lettings at the units in less than ten months, totalling over 50,000 sq ft, thereby reducing the void and adding significant value to the fund. The performance of these units indicates the current strong occupational demand for refurbished, well-presented warehouse space in Greater Manchester and we have confidence the newly vacant units will be let quickly.”