Paloma Capital has secured approval to refurbish and repurpose a site at Atlantic Trade Park in Altrincham, Greater Manchester.
The scheme, which has a gross development value of £13m, will deliver trade and warehouse facilities ranging from 900 sq ft to 26,000 sq ft.
Paloma acquired the 105,000 sq ft estate, formerly known as Blue Chip Business Park, back in 2022 as part of its urban logistics acquisition strategy throughout the UK. It has subsequently rebranded the site into Atlantic Trade Park.
Redevelopment works is due to commence this autumn and will feature a makeover of Unit Six, measuring 22,806 sq ft, with a mezzanine providing a further 5,834 sq ft of space.
Units Two and Ten, meanwhile, will be refurbished to provide 6,825 sq ft and 4,369 sq ft, respectively.
Four “starter units” from 841 sq ft to 2,644 sq ft have also be created at the business centre.
Existing occupiers on the estate include Screwfix, ATS Euromaster, and Emporio Ceramica.
Jeremy Thiagarajah, director for asset management and investment at Paloma Capital, said: “The works will revitalise this established estate and offer trade and consumer facing occupiers the most prominent units on Atlantic Street.
“This site fits well with our acquisition strategy for under-rented and undercapitalised assets in strong locations which are in need of investment to improve occupancy and capture rental growth.”
Atlantic Trade Park is situated adjacent to Altrincham Retail Park at the junction of Atlantic Street and the A56.
Representing agents are Cushman & Wakefield and Roberts Vain Wilshaw Chartered Surveyors.
Image © Paloma Capital
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