L’Oreal out as Russells markets 1.45m sq ft South Heywood industrial
While not naming the beauty business, the developer noted that requirements had changed for a previous potential occupier at HPARK, resulting in the search for a new operator.
Media reports from last year said that L’Oreal had pre-let 650,000 sq ft at HPARK to serve as a distribution warehouse and offices. Russells did not confirm the former lease.
Situated off Pilsworth Road, Russells’ HPARK has outline planning permission from Rochdale Council for up to 1.45m sq ft of industrial floor space. Units will range from 39,000 sq ft to 688,000 sq ft.
Joint agents CBRE and Colliers are set to market units at HPARK on a leasehold basis. As operators are confirmed, planning applications will come forward as each unit will be custom-built.
Russells’ development arm Russell LDP is delivering the project. The group’s construction arm, Russell WBHO, will handle the build.
HPARK includes commitments from Russells for the future buildings to be BREEAM Excellent with an EPC rating of A. Other sustainability initiatives include solar panels and electric vehicle charging units.
HPARK plans also feature three grass pitches, walking and cycling corridors, landscaping, and a multi-use games area.
The largest unit at HPARK – the one set to be 688,000 sq ft – secured full detailed planning permission in September. Russells said it can begin construction of the warehouse, known as H-688, as soon as an operator is found.
Andrew Russell, joint managing director for Russells, said: “HPARK provides a new opportunity in the current market for operators looking to specify a bespoke facility to their exact requirements.
“The availability of the highly sustainable H-688 unit in particular is unique in the region – where there is a current lack of large-scale distribution space under construction –will be an attractive prospect for operators.
“The location is already acknowledged as one of the best in the region for East to West connectivity, as demonstrated by household names located within the wider South Heywood logistics hub. The newly opened motorway link road makes the area even more attractive by reducing journey times thereby cutting fuel costs and carbon emissions.”
Paul Cook, CBRE senior director for industrial and logistics in the North West, described how HPARK fits into the current market.
“The North West has seen record take-up over the past two years and HPARK has come at the right time to supply much-needed space to support local, national, and global operators in the region,” Cook said.
“While there have been a number of major transactions in 2022, across the North West the supply of Grade A space over 100,000 sq ft stands at 1.7m sq ft, circa six months average supply, but 23% is under offer. And of the five biggest spec builds currently under construction, 30% is under offer, making HPARK a genuinely exciting prospect in this market.”
John Sullivan, director of industrial and logistics at Colliers, concurred.
“The opening of the new link road is a game-changer for Heywood and makes HPARK one of the best-connected sites in the region,” Sullivan said.
“The location is within two hours drive of almost 30% of the UK population, in an area world-renowned for logistics with a skilled and available workforce, and will accommodate all types of distribution requirements. Providing operators with a highly sustainable building and the chance to design it to their own specification makes HPARK an exceptional opportunity for operators of all sizes within this sector.”
