Network Space Developments has acquired a 2.8-acre site on Welcomb Street, Openshaw, from the LTE Group for an undisclosed sum.
The former Manchester College site, accessed from the Ashton Old Road (A635), currently comprises of eight buildings of varying ages and sizes which were previously used as classrooms and workshops by the Manchester School of Building.
Initial development plans are for the delivery of up to 70,000 sq ft of multi-let industrial accommodation with work due to start on site in the first half of 2023, subject to securing planning permission later this year.
Joe Burnett, Development Director for Network Space Development commented: “We are delighted to have acquired this site which provides the opportunity to build on the success of our adjacent City Works scheme.
“The site is very well located within Openshaw and in a sought-after area of Greater Manchester. It is ideal for both industrial and last-mile logistics uses with its excellent accessibility to a skilled local workforce as well as close proximity to Manchester City Centre.
He added: “This latest acquisition aligns perfectly with our strategy for growing our industrial and logistics portfolio by targeting sites located in key urban areas with significant future growth potential.”
LTE Group were represented by Cushman & Wakefield.