Sportswear retailer Umbro has signed a new 10-year lease at Lakeside 5000 at Cheadle Royal business park in South Manchester.

The retailer, a wholly-owned subsidiary of Nike, has taken 37,456 sq ft at a rent of £18.50/ sq ft from the landlord Phoenix Life.

Umbro CEO Matthew Cook said: 'We are delighted to remain as part of the Stockport community and thank the local municipalities for their partnership in helping broker this deal. We have signed a new 10 year lease for a new building in Stockport.

'The new building is just down from our current location. Our new lease expands our space by 5,000 square feet to 37,000 square feet in the Cheadle Royal business park which will house our current employee base of 199.

'While we are fully committed to Stockport and anticipate growth, our headcount increases are expected to be incremental. News reports indicating Umbro is adding 220 new jobs with this lease extension are not correct and don’t reflect our growth plans.'

The office building was originally developed by Muse Developments.

Lambert Smith Hampton and DTZ are joint letting agents.