Steelwork Complete on Speculative Development of Final Industrial Unit at Logistics North
Harworth Group plc, a leading regenerator of land and property for development and investment, has completed the steel structure work for its 50,809 sq ft speculative development industrial unit at Logistics North – the final industrial unit to be built at this site – ahead of its practical completion in May 2021 when it will be ready for immediate occupation.
The unit, which is being built by Caddick Construction (NW) Ltd on Harworth’s behalf, will be suitable for a range of manufacturing or distribution uses. 11% of its space will comprise a Category A fit out first floor office, alongside 45,215 sq. ft of warehouse space. It is being built to Harworth’s popular specification, with a BREEAM ‘very good’ rating, six Electric Vehicle charging points and generous yard space. The unit will be marketed by retained agents B8 Real Estate and JLL for either a long-term letting or for sale, with a range of bespoke fit-out solutions available.
The build-out is being part-funded by a £3 million evergreen loan from the Greater Manchester Combined Authority. The North West Evergreen Fund is managed by CBRE’s Investment Advisory team, part of CBRE Capital Advisors. The Fund has been the catalyst for the delivery of over £500 million of employment infrastructure over the last five years and is now in its third investment phase. It is focused on opportunities which meet employment, regeneration, carbon saving and floor space output targets.
Harworth received outline planning consent for Logistics North at the end of December 2013. Nearly 6,000 people are now employed on the site by a range of different occupiers based there including Amazon, Aldi, Whistl, MBDA, Greene King, Costa and Komatsu. Once complete, the development will deliver over 7,000 jobs and add around £300 million in Gross Value Added to the Greater Manchester economy per annum.
Only one building on-site remains available for immediate occupation – Unit F2/G, a 149,148 sq. ft unit constructed by Harworth in Joint Venture with Lancashire Pension Fund as part of its ‘Multiply Logistics North’ development. B8 Real Estate, JLL and Knight Frank are retained agents for this unit.
Cllr Martyn Cox, Deputy Leader, Bolton Council, commented:
“It’s great to hear that work is progressing well on construction of the final industrial unit at Logistics North. This flagship retail and logistics site is fast becoming one of our prime business and employment locations. In recent years it has attracted household names in the distribution and retail world, putting Bolton on the map as a centre of excellence in this sector.
We are hopeful that by spring a tenant can be secured for this final unit which will bring further employment opportunities for our residents. The kind of high quality jobs at places such as Logistics North will be exactly what Bolton needs as we emerge from the lockdown in the coming months. Our economic recovery from the pandemic depends on the continuing success of this type of site in Bolton.”
Steven Knowles, Regional Director – North West, Harworth Group plc, added:
“The development of the final industrial unit at Logistics North marks an important milestone for the scheme, which is the largest live commercial development in the North West. We continue to see strong levels of demand for logistics space in the region, with Logistics North able to offer prospective occupiers high quality, modern distribution space, as well as access to the M60, M61 and M62 with over 21 million consumers within a two hour drive.”