Davies Harrison Sells Listed Mill in Oldham
Davies Harrison has sold a Grade II listed mill totalling 249,517 sq ft on 5 acres in Chadderton, Oldham for £2.2 million.
Instructed as sole agents by Reliance Properties, Davies Harrison agreed the sale to Evermark Property Group who have granted a leaseback of 12 months to the existing occupier, Manchester Storage extending its lease by a further 12 months at £220,000 per annum.
Evermark, a local property company, plans to ultimately move into part of the mill as part of its long term expansion strategy.
Rick Davies of Davies Harrison states: “This was a complex sale for a Grade 2 listed building particularly as it was agreed during lockdown. However, we were able to negotiate a deal that suited all three parties involved.
Rick continues: “We are seeing a real surge in demand for not only brand new accommodation but second hand cost effective accommodation, particularly for storage and distribution facilities. We have completed a number of mill sales in the last few months, developing a unique approach to this niche sector of the property market.”