E-commerce giant Amazon is understood to have agreed to occupy Unit F2/G, a warehouse that forms part of the latest development at Logistics North in Bolton.
Multiply Logistics North is being delivered by a joint venture established in 2017 between developer Harworth Group and the LPPI Real Estate Fund, managed by Knight Frank Investment Management (KFIM).
The scheme provides more than 430,000 sq ft of warehouse space across nine units and six acres of development land, and has consent for a further 131,000 sq ft unit.
The property to be occupied by Amazon spans 149,000 sq ft, and the deal follows five other leases secured at Multiply, following agreements with PJH Group, Solus, the Incontinence Shop and a pharmaceutical supplier since the end of 2019.
Just one 50,800 sq ft unit, LN50, remains available at the wider Logistics North industrial development at present but it is under offer to an unnamed company, Harworth said. This unit was developed by Harworth and reached practical completion in May, concluding the build-out of the 250-acre industrial park, which lies southwest of Bolton on a site straddling Salford and Bolton authority areas.
The park is let to a mix of regional and national occupiers including Aldi, Greene King, Costa, Komatsu and others, with BREEAM ‘very good’-rated office space comprising 5-10% of the overall area and service yards with 38-50-metre depth.
B8 Real Estate, JLL and Knight Frank are the joint agents for the Multiply component of Logistics North.
Steven Knowles, North West regional director at Harworth, said of the latest letting: “This is another significant milestone. The quality of the tenant mix and speed at which we have been able to complete lettings reflects the high specification of the individual units and accessibility of the scheme, and the shortage of suitable warehouse space in the North West.
“It also reflects Harworth’s ability to remediate and transform brownfield and unused land.”
And John Styles, partner at KFIM, added: “The pandemic and structural changes in the retail market have driven robust demand for the units at Multiply Logistics North, which has translated into new lettings activity at attractive rental levels.”