Harworth Estates, the UK property regeneration company wholly owned by Harworth Group plc, has agreed to sell a development site at its Logistics North development in Bolton to Exeter Property Group.
The sale of the freehold 18.3 acre site represents the fifth sale of land by Harworth at Logistics North, which is the largest current industrial development in the north west. The other site sales have been to owner-occupiers, Aldi, MBDA and Joy Global, and to M&G Real Estate, which earlier this month agreed to forward fund the construction of two distribution units of 175,000 sq ft and 225,000 sq ft being developed by Harworth. The units are expected to be completed in 2016.
Logistics North was granted outline planning consent in December 2013 for 4 million sq ft of distribution and manufacturing space. In May, Harworth completed construction of the first phase of the site’s spine road and associated infrastructure, opening up a number of development plots, including the one being sold to Exeter Property Group.
Exeter Property Group, working with First Industrial, have this week applied for planning permission to build a 357,700 sq ft distribution facility.
Phil Wilson, Executive Director of Harworth Estates, said: “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.”
Harworth’s agents at Logistics North are JLL and Cushman & Wakefield.