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Network Space acquire Openshaw site from LTE Group

Network Space Developments has acquired a 2.8-acre site on Welcomb Street, Openshaw, from the LTE Group for an undisclosed sum.

The former Manchester College site, accessed from the Ashton Old Road (A635), currently comprises of eight buildings of varying ages and sizes which were previously used as classrooms and workshops by the Manchester School of Building.

Initial development plans are for the delivery of up to 70,000 sq ft of multi-let industrial accommodation with work due to start on site in the first half of 2023, subject to securing planning permission later this year.

Joe Burnett, Development Director for Network Space Development commented: “We are delighted to have acquired this site which provides the opportunity to build on the success of our adjacent City Works scheme.

“The site is very well located within Openshaw and in a sought-after area of Greater Manchester. It is ideal for both industrial and last-mile logistics uses with its excellent accessibility to a skilled local workforce as well as close proximity to Manchester City Centre.

He added: “This latest acquisition aligns perfectly with our strategy for growing our industrial and logistics portfolio by targeting sites located in key urban areas with significant future growth potential.”

LTE Group were represented by Cushman & Wakefield.

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Welcomb Street, Openshaw

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Operating across the Northern Powerhouse region, Network Space Development is a commercial property developer, investor and manager specialising in the industrial warehouse sector. Founded in 1982, the company is now in its second generation of family ownership by Chairman and CEO Richard Ainscough. Network Space Development has created and modernised over 10 million sq. ft of industrial warehouse property in over 150 locations. The company’s vision is to provide the best and most complete industrial workspace solution for all of its stakeholder partners, whether they are a tenant, investor or government body.

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