Council buys warehouse for £10million

Date published: 09 February 2018

Rochdale Borough Council has paid £10million to purchase a warehouse. 

The newly refurbished distribution warehouse on Stakehill Industrial Estate is let to Footasylum on a 10-year lease.  

The acquisition is part of a new strategy to acquire properties to generate rental income for the council. 

It comes after the Council spent £8.1 million on buying the premises of Marks and Spencer (Yorkshire Street) and Mecca Bingo (Smith Street). 

The purchase of the M&S premises cost £4.5 million, whilst Mecca Bingo cost £3.6 million.

In March 2017, councillors approved up to £30m of borrowing from the government on a fixed rate loan to pay for the acquisition of properties.£81-million-on-marks-and-spencer-and-mecca-bingo-premises

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