MFI site is sold in a £2m deal (From The Bolton News)

MFI site is sold in a £2m deal

9:05am Thursday 9th July 2009 in

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THE former MFI retail warehouse has been bought by a national property and investment group in a £2 million deal.

The warehouse in Manchester Road has lain empty since the chain went out of business last year.

The site has been bought by Morston Assets and the new owner has plans to offer concessionary rates in the 50,000 sq ft warehouse for local businesses.

Angus Baillie, head of acquisitions for Morston Assets, said: “By taking advantage of the recession and the low property prices, we have been able to purchase this unit at a very discounted rate and, as a consequence, are able to offer retailers flexible leases and reduced rates on tenancy agreements.

“We will be marketing the property as a whole or it could sub-divided into smaller units to suit the retailers who are interested in securing a lease.”

The property, with more than 170 car parking spaces, is set on a 3.15 acre site, within walking distance of Bolton town centre.