Paloma secures 105,000 sq ft industrial consent

Blue Chip Business Park will be redeveloped into units ranging from 900 sq ft to 26,000 sq ft.

Trafford Council has granted Paloma Capital planning permission to revamp the Atlantic Street site and deliver 105,000 sq ft of new-build sheds.

Paloma, which acquired the site in 2021, has rebranded the site as Atlantic Trade Park.

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, Altrincham’s main commercial thoroughfare, joining our existing occupiers, Screwfix, ATS Euromaster, and Emporio Ceramica.

“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.”

Cushman & Wakefield and Roberts Vain Wilshaw Chartered Surveyors are the agents acting on Atlantic Trade Park.

Joseph Wilshaw, principal director at RVW, said: “The rebranding to Atlantic Trade Park and the extensive external remodelling will certainly raise the profile of this prominent estate and entice new occupiers to join the high-profile names already on site.

“The varied high-quality space availability, from just 841 sq ft up to 28,640 sq ft delivers against strong demand in this particular area.”

Paloma Capital is a private equity real estate investor established in 2015 and wholly owned by its founding partners Joe Froud and Jack Pitman.