The outdoor clothing specialist has signed up for a 352,000 sq ft unit at Midpoint 18 in Middlewich as joint venture partners DB Symmetry and Pochins prepare to start on two speculative units at the neighbouring Ma6nitude in the New Year.
Go Outdoors has signed a five-year lease at the warehouse, formerly occupied by drinks distributor Keuhne + Nagel. The quoting rent for the building, owned by Delin Capital since 2013, is £5.25/sq ft.
At the time of its sale five years ago, the asking price was around £14m. Other nearby occupiers include Wincanton, Tesco, Velcro, Cheshire Police, and Firmin Coates.
The outdoor clothing company was acquired by JD Sports in 2016 and the move to a new base in Middlewich forms part of a wider expansion drive. B8 Real Estate and Knight Frank advised Delin on the deal, while JD Sports represented itself.
Midpoint 18 sits next to Ma6nitude, a project being speculatively developed by a joint venture of Pochins and DB Symmetry.
Work on two new units of 149,000 sq ft and 41,000 sq ft will begin in the New Year, with both of these being developed speculatively next to the existing warehouse used by B&M. The project is expected to complete in summer next year with Pochins acting as main contractor.
Designed by architect AEW, the retained agents for the units are Legat Owen, B8RE, and Savills. Bob Nicholson, director of Ma6nitude and Pochins, said: “We’ve already had strong interest in both units, which bodes well for securing occupancy and supports our future plans for the growth of the site. Through a phased approach to the development of the site, we’re enabling a high degree of flexibility in our planning as it allows us to respond directly to changing market demands.”
Further phases are also likely to be brought forward on nearby land, which the joint venture partners signed an option for in May this year. This gives the developers the chance to build out a further 69 acres which is allocated for employment use under Cheshire East’s Local Plan; units here vary between 92,000 sq ft and 375,000 sq ft.
Both Midpoint 18 and Ma6nitude will be supported by the £58m Middlewich Bypass, a link road running from the A533 Booth Lane via Chedford Lane to Pochin Way near the A54.
The road, which could support 1,160 homes and the creation of 6,500 jobs, was backed by Transport Secretary Chris Grayling in October last year with a £46.8m cash pot. The remainder of the funding is coming from Cheshire East Council.
The proposed route of the bypass, which went out to consultation earlier this year, meets Pochin Way next to phase two of Ma6nitude.