Buccleuch Property has offloaded Irlam Business Park in Greater Manchester to Crossbay, the pan-European urban logistics platform of private equity real estate manager Mark.
The site, providing 83,923 sq ft of warehouse space across two buildings, has changed hands for in excess of £11m. The buildings are fully let to two tenants with an average unexpired lease term of more than 11 years.
The park, which Buccleuch bought from Abrdn in 2016 for £4m, sits between junction 11 of the M60 and junction 20 of the M6. The purchase marks Crossbay’s first move into the North West, following two recent acquisitions in Yorkshire.
