Property News - Matalan site sold

Arrowcroft Northwest and United Utilities have sold a purpose-built Matalan store on Millgate at Stockport in Greater Manchester to Peel Investments for£7 million. The 4,180 sq m unit was pre-let to Matalan on a 25-year FRI lease at an initial rent of£500,000 a year. Arrowcroft Northwest managing director Christopher Fox said: 'This brownfield site has been transformed and regenerated to play a new role for the town.' Jones Lang LaSalle acted on behalf of Arrowcroft.