The plan, for a logistics site at Radway Green, is the work of 'last-mile' industrial warehouse investor, Warehouse REIT, and joint venture partner Panattoni, the largest logistics real estate developer in Europe. Panattoni will deliver the structure, whilst Warehouse REIT puts up the money. With this expansion, the Crewe logistics hub has the potential to become the premier logistics hub in the North West region.
The 102-acre site is owned by Warehouse REIT is situated close to junction 16 of the M6 motorway. Consent for an 803,000 sq ft logistics scheme was obtained in 2021 but a new application for a further 1 million sq ft is now pending approval.
The first phase of the project will start on site before the end of the year, with the first units expected to be completed in autumn 2023.
The new units at the Crewe logistics scheme will benefit from a minimum rating of EPC A and will also be classified as BREEAM ‘Very Good’. Other features to enhance the scheme and improve biodiversity will include ponds, both for sustainable drainage and to provide a habitat for amphibious and aquatic species, and more than one kilometre of new tree planting situated around the perimeter. The first phase of the scheme has the potential to create up to 1,000 local jobs.
Crewe logistics scheme marks 'significant milestone'
"The logistics market dynamics in the North West remain highly compelling," said Andrew Bird, Chief Executive of Tilstone Partners, who manages Warehouse REIT day to day. "Supply has fallen by 37% in the past 12 months, underpinning strong rental growth forecasts.
“This is another significant milestone for Warehouse REIT as we accelerate our ‘lazy acres’ strategy. Working alongside Panattoni significantly de-risks the scheme and allows us to leverage its global logistics development expertise, enabling Warehouse REIT to benefit from Panattoni’s strong occupier and contractor relationships.”