Bay Freight Limited, Tame Street, Stalybridge SK15 1ST
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£3,400,000
May 2025
On behalf of a national property company, NorthCap have successfully sold the Bay Freight Haulage yard to Modal.
The property comprises 46,347 sq ft on a site of 3.83 acres providing a site coverage of only 29%.
The entire property was let to Bay Freight Limited, part of the Kinaxia Group for a further 5 years with a rent passing of £190,000 pa. There was an outstanding rent review from Jan 2025.
Modal made an off market approach to our client (the owner) via Index Real Estate to acquire the property for £3,400,000 reflecting a NIY of 5.25% which was accepted ahead of a formal marketing process.
The buyer was represented by Gez Davies of Index Real Estate with Gately Legal carrying out the legal work for the vendor.
