New occupier secured for Satellite Park

Leading industrial developer and asset manager, Chancerygate has let a 17,896 sq ft warehouse unit that forms part of the Satellite Park scheme in Oldham. Independent plumbing and heating merchant, Williams & Co are set to occupy the entire unit having agreed a 10-year lease at £5.95 per sq ft. This is the first Northern outlet for the trade only plumbers, which currently has 33 stores across the South and South East and has been recognised by the London Stock Exchange as one of the UK’s 1000 most inspiring businesses.

Chancerygate acquired the 17,896 sq ft warehouse from MonoPumps in 2016 and subsequently undertook the comprehensive refurbishment of the building, which also benefits from a large yard and prominent frontage to Greengate. In addition, Chancerygate is currently on site building a new 60,000 sq ft parcel distribution unit that has been pre-let to DPD on a 25-year lease. A planning application has been submitted to develop the next phase of Satellite Park to provide 105,000 sq ft of speculative industrial and trade counter space in units from 2,850 to 60,000 sq ft.

David Tyson, Asset Manager at Chancerygate comments: “Williams & Co is one of the fastest growing plumbing merchants in the UK and when we heard that they were looking to venture North, we were keen to work with them to accommodate their requirements. Their commitment to a 10-year term demonstrates their confidence in Satellite Park as a trade location. ”

B8 Real Estate and CBRE were the joint letting agents for Chancerygate. Williams & Co were unrepresented.

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