Stoford and Mountpark have signed an exclusivity agreement with Manchester Airports Group to buy the remainder of land at Manchester Airport City, unlocking a 1.2m sq ft industrial development.
The land is valued at around £23m and comprises 37.3 acres. The joint venture is now seeking prelets for the development.
A joint venture between Manchester Airports Group, Carillion, Beijing Construction Engineering Group and the Greater Manchester Pension Fund began marketing the site earlier this year and was close to a deal with Legal & General and Canmoor.
The site is part of the broader Global Logistics area to the south-west of the airport.
Amazon signed a prelet there at the end of last year for a 654,000 sq ft shed being developed by Mountpark. The shed is being sold separately for around £40m.
The developers of Airport City are close to starting construction on a 130,110 sq ft shed, named Alpha, which is up for sale for £15m.
DHL was the first occupier to sign up to the site, taking a 37,413 sq ft warehouse in 2013.
Global Logistics is part of the wider £800m Airport City regeneration project, which spans 160 acres and includes offices, hotels, homes, shops and leisure uses.
DTRE is acting for Stoford and Mountpark.
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