Advised by JLL, Aviva Investors has let a 96,000 sq ft speculatively-developed industrial unit in Heywood to herb and spice manufacturer McCormick.
McCormick has taken the unit at Link95, which was developed by Aviva in a joint venture with Graftongate and is located on the Hareshill Distribution Park, near the M66. The company has taken a 10-year lease at a rent of £6.35/sq ft, and joins other occupiers on the park including Martin Brower and Yearsley Group.
Other occupiers nearby also include Argos, Fowler Welch, Eddie Stobart, and Kuehne + Nagel.
McCormick will retain its 145,000 sq ft manufacturing unit in Littleborough, and will use the unit at Link95 as additional distribution space in the North West.
Richard Johnson, director at JLL in Manchester, said: “There is robust demand for units of Link95’s size and quality in prime locations, which continues to outstrip Grade A supply in the region. McCormick’s requirement was for high quality distribution space in North Manchester to store packaged sauces that are manufactured at their Littleborough facility and supplied to McDonald’s.
“Link95 satisfied their requirement well due to the institutional Grade A specification, excellent motorway links and close proximity to their existing properties in Heywood and Littleborough. After successfully pitching for this instruction, we are delighted to have secured McCormick at Link95, who have a 5A1 covenant strength, on mutually satisfactory lease terms.”
Colin Lawrence-Waterhouse, Asset Manager at Aviva Investors, said: “Link 95 is a new, detached distribution unit built to an extremely high specification and benefits from excellent motorway access.
“Acquiring high quality logistics assets such as Link95 through new development or refurbishment of existing buildings aligns with our client’s strategy of investing in quality assets in core locations. Greater Manchester is a core market for Aviva Investors and a location where we have strong appetite for speculative development. We are delighted to have secured a long-term let to the global manufacturer McCormick and look forward to building a strong relationship with them.”
McCormick was supported by the Rochdale Development Agency and Rochdale Council on its move, while JLL and BC Real Estate are the joint agents on Link95.