CBRE Investment Management has acquired Snipe Retail Park in Ashton-Under-Lyne, Manchester, from Orchard Street Investment Management for £62m.
The 242,000 sq ft retail park is located five miles east of the city centre and is anchored by B&Q.
James Hurst, director in the investment team at Savills, which represented Orchard Street Investment Management on the sale, said: “2024 has proved to be a resurgent year in the retail warehouse investment market with strong trade, low vacancy and rental growth driving investment volumes in excess of £3bn, for only the third time in the last decade. With such a robust occupational platform, we see this trend continuing into next year and beyond.”
CBRE Investment Management was represented by XPROP.
