Harworth Group has secured its fourth tenant at the speculatively-developed Multiply at Logistics North, with kitchen and bathroom wholesaler PJH joining existing occupiers UW Homes Services, Hardscape, and Rijo42.
The company, which employs 500 people across the UK, has taken just under 63,000 sq ft at Unit F1/A at the site, one of the units completed by contractor Buckingham Group in November last year.
Landscape materials supplier Hardscape was the first occupier to sign up at the speculatively-developed site, taking 45,000 sq ft in April last year. It has since been joined by coffee supplier Rijo42, which signed up for 20,300 sq ft at a headline rent of £7.25/sq ft in July 2018.
The deal with PJH leaves 276,000 sq ft available at Multiply with five units ranging between 20,400 to 149,300 sq ft.
Multiply is a joint venture between Harworth and the Lancashire County Pension Fund, with LCPF funding 80% of acquisition and development costs with Harworth meeting the remaining 20%.
B8 Real Estate, JLL, and Knight Frank are the retained agents for Multiply, which forms part of the wider Logistics North site. More than 5,500 people are now employed on the site by occupiers including Amazon, Aldi, Whistl, MBDA, Greene King, Costa and Komatsu.
Ian Ball, executive director of income generation at Harworth said: “Securing four new lettings in just over six months justifies the joint venture’s decision to build speculative industrial space to absorb continued demand for well-located, energy efficient space. On a personal note, PJH is an excellent business and I’m pleased that we’ve brought further good quality employment to the site.”
John Styles, partner at Knight Frank Investment Management added: “Logistics North remains the North West’s premier distribution development and I am confident that the joint venture’s five remaining vacant units will be quickly let owing to the ongoing scarcity of supply in the North West.
“In addition, PJH’s decision to relocate means that over 500 people are now employed within ‘Multiply Logistics North’ and we are delighted that we’re making a valuable contribution to the ongoing success of the North West economy.”