Harworth secures first letting at Multiply
Landscape materials supplier Hardscape has taken 45,000 sq ft at the first phase of Harworth Group’s Multiply, a speculative development forming part of the Logistics North site in Bolton.
Hardscape, currently based in Bolton, has expanded its operations by taking a 15-year lease on the space, which is the smallest of the three units speculatively developed by Harworth at the site. Two further units of 63,000 sq ft and 55,600 sq ft, completed in December last year, are both available and the group has reported strong interest in both.
The second phase of Multiply, comprising six units ranging between 18,000 sq ft and 149,000 sq ft, is due to complete in November 2018 with Buckingham Group chosen as main contractor. The company also delivered the first phase of Multiply.
Overall, Multiply will deliver 10 new commercial units at Logistics North totalling 564,000 sq ft over three phases. JLL and B8 Real Estate are the retained agents for Logistics North.
Ian Ball, executive director of income generation at Harworth, said: “This is a milestone deal for Multiply Logistics North, marking the start of what we believe will be a fruitful long-term partnership in generating returns for Lancashire County Pension Fund and Harworth Group.
“We are now keen to maintain this momentum as the remainder of the Multiply Logistics North is developed out over the next two years.”
Robert Kos, senior surveyor for UK industrial & logistics at JLL added: “The deal to Hardscape proves that Logistics North is still one of the premier destinations in the North West and the decision to speculatively develop mid-box units on site was a successful one.
“This should kick start further interest in the scheme and additional deals will follow across both phases one and two.”
Matthew Haslam, managing director of Hardscape, said: “We have been looking for a second manufacturing base in the North West to couple with our current facility in Stratford Upon Avon.
“We needed something more modern and hi-tech providing the correct environment for our customer base and product range and services.
“Logistics North fits that bill and we can see the future here too with our expectations of growth and the knowledge of support from Bolton Council and great pool of potential workforce in the local area as we expand. Supplying materials and services throughout the UK and Ireland, the rapid distribution resource and network here provides perfect synergy with our plans.”
The deals follow two 10-year lettings at R-evolution, which was also speculatively developed at Logistics North. Earlier this year Northern Building Plastics and cleaning machines supplier Vaclensa agreed to take the C4 and C5 units, which together account for a combined 52,900 sq ft, at a rent of £7/sq ft.
Other occupiers at the site include Aldi, Amazon, Lidl, MBDA, Komatsu, Costa and Greene King. More than 2m sq ft of commercial space has been built out at the development since it received outline planning consent in December 2013, with over 1,500 people employed on site.