Life Sciences firm Seda take 38,000 sq. ft to expand operations
Seneca Property (“Seneca”), the independent real estate investor which seeks to provide income and growth investment opportunities, has secured the letting of ‘The Lakehouse’ – its 38,000 sq. ft building, occupying a central position at Cheadle Royal Business Park, close to Manchester Airport.
The incoming tenant, Seda, has committed for the long term with a 20-year lease, having secured funding to complete a multi-million-pound transformation of the property into a state-of-the-art life sciences facility. This investment will enable Seda to significantly scale up its current pharmaceutical development operations.
Seneca was jointly represented by commercial property agents Canning O’Neill and Williams Sillitoe.
Paul Stott, CEO of Seda said: “This was a unique opportunity to secure a prime property immediately adjacent to our current facility on Cheadle Royal, and the timing worked perfectly as we accelerate the next phase of our successful expansion strategy.”
James Dickinson, Director of Canning O’Neill added: “We are delighted to have advised on this deal which represents one of the largest lettings in the entire South Manchester market for several years. The Lakehouse is a unique property which provides a perfect platform to support Seda’s ongoing growth. Paul and the team at Seda have first class credentials and to be able to attract and retain tenants of this quality represents a real coup for Cheadle Royal.”
This letting marks the second sizeable deal that Seneca and Canning O’Neill have completed in recent months, following the letting of 11,000 sq. ft at ‘Brightgate House’ in Trafford Park to Eurosonic Group at the end of 2022.
Chris Bullough, Managing Director of Seneca Property commented: “We’re delighted to secure two major deals in close succession which validate our strategy of investing in well located sites that are attractive to employers and employees alike.”
Notes to Editors
Seneca Property is an independent real estate investor which seeks to provide exceptional income and growth investment opportunities for investors. The firm invests across a range of sectors including office, retail, leisure, industrial, residential, and healthcare.
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