Regeneration specialist Harworth Estates has agreed to sell 18.3 acres of land at its Logistics North Development in Bolton to Exeter Property Group.
Exeter has purchased the freehold of the site and has already applied for planning permission to build a 357,700 sq ft distribution centre in association with First Industrial.
The agreement marks the fifth sale of land by Harworth at Logistics North, although all other site sales bar one have been to owner-occupiers Aldi, MBDA and Joy Global. The remaining sites were sold to M&G Real Estate, which earlier this month agreed to forward fund the construction of two further distribution units of 225,000 sq ft and 175,000 sq ft being developed by Harworth.
Executive director of Harworth Estates, Phil Wilson, anticipates further interest from developers keen to gain a foothold in the largest current industrial development in the region.
He says; “Logistics North is a significant development for the North West and the swift progress we have made in bringing the site forward for development reflects our expertise at regenerating and developing large, brownfield sites.
“With distribution space remaining in short supply across the north of England, interest in Logistics North continues to grow as people can see the first units nearing completion.
“We believe Logistics North is now the number one location for businesses wanting manufacturing and distribution space in the North West.”
Logistics North received outline planning permission for 4 million sq ft of distribution and industrial space in 2013. Harworth completed the first phase of the site’s spine road and infrastructure in May, allowing access to a number of development plots, including the one being sold to Exeter.
Harworth’s agents at Logistics North are JLL and Cushman & Wakefield.
