Realterm secures tenant at 36,392-square-foot final mile delivery hub in Greater Manchester, UK

Realterm announced a new lease with a logistics and transportation company at Northbank 40, its 36,392-square-foot final mile delivery hub on a 3.80-acre site in Irlam, Greater Manchester, United Kingdom. The lease immediately follows comprehensive renovations at the property, which delivered an increased power capacity and achieved an improved EPC A rating.

“Securing this new letting ahead of the completion of our refurbishment works is a true testament to the strength of occupier demand for the asset,” said Sophie Dracup, Head of Asset Management, UK at Realterm. “Through our active asset management and targeted capital investment, combined with Northbank 40’s strategic operational characteristics, we were able to present a compelling proposition to the market, resulting in the full lease-up of the facility to a top-tier occupier.”

The new 10-year lease with a leading logistics and distribution firm reflects the company’s continued confidence in the region, with the asset's transportation-advantaged location proving a key draw. The tenant will move into the facility this month as the refurbishment is completed.

Realterm's refurbishment program delivers a series of comprehensive improvements to the facility, including a full roof re-coating, new loading doors to the front elevation, new dock levellers, yard repairs and a full Cat A refurbishment of the offices and circulation areas. The transition to electric VRF climate control within the offices and replacement of external halogen lighting with LED contributed to the facility achieving an improved EPC A rating. These enhancements complement the property's existing operational strengths, including just 19% site cover, and together drove strong occupier interest ahead of completion.

“This investment and successful leasing reflect Realterm's continued confidence in UK and European logistics markets, where we are actively growing our presence and pursuing supply-chain-critical assets that drive genuine operational efficiency for our tenants,” said Leonie Kierkels, Director of Asset Management, Europe at Realterm. “Greater Manchester's constrained supply pipeline and strong demand for final-mile delivery infrastructure make it one of the UK’s most compelling logistics submarkets, and Northbank 40 is a strong example of the opportunities we continue to find there.”

The facility comprises 31,689 square feet of warehouse space, 4,430 square feet of office space, and a 273-square-foot gatehouse. The property offers exceptional operational functionality with 34 level access doors, three dock-level doors, 80 car parking spaces and only 19% site cover.

Strategically positioned just off the A57 in Irlam, the site offers efficient access to the M60, M62, and M6 motorways, which link all major Northern cities in the UK. The location also provides connectivity to Trafford Park – one of Europe's largest business parks, spanning over nine million square meters – and reach to approximately eight million people within a one-hour drive, including over four million residents across the combined metropolitan areas of Liverpool and Manchester. Manchester Airport is just 20 minutes away and the Port of Liverpool is accessible in under an hour.

James Goode and Sam Royle of Box4 Real Estate along with Steve Johnson and Will Kenyon of B8 represented Realterm in this transaction.