Leading UK regeneration company Harworth Group plc has announced its intention to speculatively develop further commercial space at Logistics North in Bolton, the North West’s largest live commercial development. It has also completed two further deals on-site as the scheme continues to grow from strength to strength.
Key Points
- Harworth will be speculatively developing two new commercial units, totalling 52,000 sq. ft, in response to the continued reported shortage of good quality small units under 100,000 sq. ft in the North West.
- Harworth will also be constructing an 1,800 sq. ft Costa coffee unit from February 2017, with Costa Ltd taking a 15-year lease once the building has practically completed.
- Harworth has also sold c. 10,000 sq. ft to Greene King, the pub retailer and brewer, to construct a Farmhouse Inn in the new year.
- Aldi has begun the construction of a c. 19,500 sq. ft new superstore at the entrance to the development that is due to practically complete in Summer 2017.
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Harworth will begin the construction of two new speculative commercial units, each totalling 26,000 sq. ft, from January 2017. The units, close to the entrance of the development adjacent to Junction 4 of the M61, will be aimed at occupiers with manufacturing or logistics operations and will be built to Harworth’s ‘R-evolution’ specification, including a BREEAM ‘very good’ rating and office provision.
The company will also be constructing a new Costa unit at the site’s entrance on behalf of Costa Ltd. A 15 year lease with the company has been agreed for the 1,800 sq. ft unit with practical completion expected in the Autumn of 2017. The site’s future retail provision has been further augmented by the sale of land to Greene King for the pub retailer and brewer to construct a new Farmhouse Inn in early 2017, marking the second deal between the companies over the past twelve months.
Following the completion of its North West HQ at the site earlier this year, Aldi has now begun the construction of an additional c. 19,500 sq. ft new superstore, which will act as the company’s national training store as part of its expansion programme; this is expected to create in the region of 40 new jobs.
Logistics North is the North West’s largest live commercial development, with 4m sq. ft of space over 250 acres consented in December 2013 sitting adjacent to Junction 4 of the M61. The past three years has seen 1.5m sq. ft of space already built or under construction, with Aldi completing the construction of their 650,000 sq. ft North West Distribution HQ and MBDA, Joy Global and Exeter Property Group having also completed their units.
Chris Davidson, Associate Director of Major Projects at Harworth Group plc, said “Now that Logistics North has established itself as a leading commercial development in the North West, one of our main aims is now providing complementary uses to the development already on-site. We look forward to welcoming Costa and Greene King onto the site to join our other occupiers whilst we’re also delighted that Aldi are further investing in Logistics North.”
Dan Burn, Director at joint letting agents JLL who are advising Harworth, commented “Whilst the focus to date has been on large scale development, we have received numerous enquiries for smaller units from regionally based occupiers keen to relocate to Logistics North and we are delighted that Harworth have now decided to react to this demand by speculatively constructing two new units.”