Paloma chips in for south Manchester business park

Blue Chip Business Park the latest addition to group’s portfolio

• What Paloma Capital has purchased Blue Chip Business Park in Altrincham, south Manchester
• Why Prominent multi-let estate is in sweet spot for Paloma’s urban logistics fund
• What next Group continues to build portfolio with £450m target

Paloma Capital has continued to build its urban logistics portfolio with the purchase of the Blue Chip Business Park in south Manchester, React News can reveal.

The investor is understood to have paid around £8m for the 105,000 sq ft multi-let industrial estate in Altrincham, an affluent suburb south of the city centre.

The business park is let to the likes of ATS and Screwfix and sits off Atlantic Street, near Altrincham Retail Park, owned by Orchard Street. Paloma’s deal is understood to reflect a net initial yield of 5.75% and has been sold by a private property company.

Zaman Roberts and Roberts Vain Wilshaw acted for the vendor with Edwards & Co acting for Paloma Capital.