NEWS ARCHIVE

TARGETFOLLOW SCORES DEAL AT OLD TRAFFORD DEVELOPMENT | 02/07/08

Targetfollow has announced a 14,000 sq ft letting to St Vincent’s Housing Association (SVHA) at Metropolitan House, City Park, Old Trafford. The deal, brokered in uncertain market conditions, is a huge endorsement of the building.

The SVHA transaction follows on from a flurry of smaller deals at Metropolitan House this year, which include, the Bankruptcy Protection Fund, who took 2,560 sq ft, Hanjin Shipping who occupy 1,603 sq ft and Rehab Works who signed up for 972 sq ft. The building’s owners, Targetfollow, recently undertook a large-scale, comprehensive £1.5 million refurbishment of Metropolitan House, transforming the scheme into an even more attractive option for potential tenants.

Bill Preedy, Targetfollow Portfolio Manager says: “We are committed to carrying out high quality refurbishments and taking an ongoing interest in occupiers' needs. As the strength of this recent covenant demonstrates our approach is undoubtedly successful. We are pleased to welcome St Vincent’s Housing Association to Metropolitan House and look forward to a long term relationship with them."

Andrew Peak of GVA Grimley’s Manchester office comments, “Recent occupier activity in the Old Trafford area has been very encouraging and the spate of deals already completed, shows confidence in the product Targetfollow has produced. This means that we now only have 5,869 sq ft available at Metropolitan House, which can be accommodated from 1,000 sq ft upwards."

Metropolitan House forms part of the City Park development, which is located in a prime position off the A56. The setting provides unrivalled access to Manchester city centre, the M60, as well as the wealth of local amenities, including The Trafford Centre and White City Retail Park, which is adjacent to the scheme.