Goldman Sachs, Canmoor to fund Leyland shed 

The deal means Caddick Construction can start building the 544,000 sq ft Connect 6, located at Farington Park in South Ribble. 

Goldman Sachs Asset Management and Canmoor have agreed to fund the construction of the 544,000 sq ft industrial unit, which is due to complete next July. 

“This investment aligns with our wider strategy to deliver best in class logistics space in well- connected, high-quality locations, specified to meet the requirements of modern occupiers and the highest sustainability standards,” said Farbod Nia, managing director at Goldman Sachs Asset Management. 

Connect 6 is targeting an ‘Excellent’ BREEAM accreditation and aims to address the lack of industrial space in the region. 

“This development addresses an acute need for this type of development in the North West of England,” said Tom White, director at Canmoor. 

“Moreover, the scheme is set to lead the way from an environmental point of view, whilst enjoying unparalleled links to local infrastructure.” 

Caddick Developments won approval for the project in April, receiving unanimous approval from South Ribble Council. 

“Connect 6 is an incredibly exciting scheme and we’re delighted to have investors of the calibre of Goldman Sachs and Canmoor coming on board to take this development forward,” said Steve Widdowson, head of Caddick Developments in the North West. 

“The deal means we can push ahead with developing out the site and help introduce much-needed capacity into the industrial and logistics market in the North West. Caddick’s vertically integrated offer has once again demonstrated the value of being able to act fast in addressing supply-shortages in quality locations.” 

It is predicted that the project could create around 1,000 jobs. 

KPP Architects designed the Farington Park project and NJL Consulting advised Caddick on planning.