Acting on behalf of PPG Land Ltd, King Sturge has recently completed the North West’s largest industrial letting so far this year to the national clothing retailer Next.  Calver 9 comprises a high quality fully fitted distribution facility extending to 94,686 ft² and is located in a strategic position within a quarter mile of Junction 9 of the M62.  The unit was originally purchased on a vacant possession basis by PPG Land and subsequently refurbished to a high standard.

Next Plc has taken the premises on a new 15 year lease without breaks at an initial rental of £3.85 ft² subject to a minimum fixed uplift at year 5.

Steve Johnson, Partner at King Sturge Manchester who advised PPG on the acquisition and subsequent letting commented “Calver 9 is one of the few distribution units available in a prime logistics location with good specification and appropriate size matching current occupier requirements.  As such, we were always confident of achieving a successful disposal. Concluding a letting to a household name on a straight 15 year lease reinforced our initial views that there is still a market for units where the fundamentals of specification and location are right”. 

King Sturge acted jointly with Davies Harrison on behalf of PPG Land, Next was represented by Cushman & Wakefield.