Manchester United’s new £8.2m signing

By Bridging Loan Directory -

Manchester United Football Club has boosted its holdings around its Old Trafford stadium by buying a group of properties from SEGRO Estates for £8.2m reports BusinessDesk.com.

The club, which already owns the Stadium Point development, has purchased Trafford Gateway – a one-acre site directly opposite the stadium, a 177,000 sq ft unit known as 3 Wharfeside currently occupied by logistics firm AK Worthington, and a 58,700 sq ft, multi-occupier industrial estate containing 7 units known as Canalside.

SEGRO, which is Europe’s largest industrial Real Estate Investment Trust (REIT), bought most of Trafford Park following its acquisition of property company Brixton in 2009. Its holdings include 17 different assets covering 1.9m sq ft of space housing more than 110 customers.

SEGRO National Markets’ business director David Bridges said: “We are delighted to have concluded this deal with Manchester United.

“The sale has been beneficial to both parties – for SEGRO the disposal of these relatively small individual units allows us to concentrate on retained assets at Trafford Park, whilst giving Manchester United greater access to more property and land around its stadium.”

Manchester United chief operating officer, Michael Bolingbroke, said: “We are delighted to have completed these purchases from SEGRO to further consolidate our ownership of land and buildings around the stadium.”

CBRE advised SEGRO and DTZ advised Manchester United.