Harworth completes speculative phase at Logistics North
Harworth Group and joint venture partner Lancashire County Pension Fund have completed the first phase of Multiply, a speculative commercial development at Logistics North.
Main contractor Buckingham Group has completed three units totalling 163,500 sq ft at the site just off the M61.
The speculatively developed units measure 63,000 sq ft, 55,700 sq ft, and 44,800 sq ft respectively, and include office space and service yards. Tenants for the units are yet to be agreed.
The completions mark the end of the first phase of Multiply, which will deliver 10 new commercial units at Logistics North totalling 564,000 sq ft over three phases. These will be built over the next 18 months.
B8 Real Estate and JLL are the retained agents for the new units. The LCPF is advised by Knight Frank Investment Management.
Ian Ball, executive director of income generation at Harworth Group, said: “This marks an excellent start to the relationship between ourselves, the Lancashire County Pension Fund and Knight Frank Investment Management.
“New high-quality commercial development remains at an absolute premium across the North of England and I am confident that we will be able to swiftly secure occupiers for the three new units.”
John Styles, partner at Knight Frank Investment Management, added: “We are pleased that all the new Multiply units have been delivered on-time and have been extremely impressed by how Logistics North has developed in 2017. Our goal is to quickly attract tenants into these units and with significant pent-up demand for new space still existing in the region, we are sure that Multiply can help meet this business need.”
The new units form part of the wider Logistics North development, which was granted outline planning consent at the end of 2013. To date, over 1.5m sq ft of commercial space has been built at the site, with occupiers including Aldi, Greene King, Komatsu, and Whistl.
Next year, both Amazon and Lidl will open units at the site. Overall, Logistics North is expected to generate around 5,000 jobs.
