Council buys warehouse for £10million

Stakehill Industrial Estate

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.

http://www.rochdaleonline.co.uk/news-features/2/news-headlines/113119/council-spends-£81-million-on-marks-and-spencer-and-mecca-bingo-premises