Construction of PLP and Legal & General’s 190,000 sq ft speculative industrial unit at Trafford Park has begun and the developers aim to complete the scheme this autumn.
The warehouse, known as Metro 190, is being delivered by L&G’s Industrial Property Investment Fund alongside PLP, a specialist UK logistics and industrial property firm owned by the Peel Group and investors Mira Real Estate, Ivanhoé Cambridge and PLP’s senior management team.
Readie Construction has been appointed as the main contractor and has started work at the site in the centre of the Trafford Park commercial development in Greater Manchester, close to junctions 9 and 10 of the M60.
The scheme is immediately adjacent to the newly completed Metrolink tram extension connecting Manchester city centre with the Trafford Centre. As well as a 15-metre-high warehouse, Metro 190 will feature high specification offices, a secure 50-metre yard and separately accessed car parking.
The development is also targeting net zero-carbon construction and includes energy saving features such as roof-mounted solar panels, electric vehicle charging points and air-source heating and cooling.
Consultancies Savills and Avison Young are the leasing agents for the scheme and have launched a marketing drive to identify potential occupiers.
Tim Packer of L&G’s Ipif, said: “This development is a hugely significant addition to our assets within Trafford Park. It’s a flagship building being delivered to an extremely high specification.
“Targeting operational net zero is becoming increasingly important to occupiers, and supporting these ambitions forms a crucial part of LGIM [Legal & General Investment Management] Real Assets’ strategy to deliver net zero across its commercial real estate portfolio by 2050.”
Keith Wilson, development director at PLP, added: “Metro 190 is a ‘best in class’ development in an unrivalled, super-prime location. It’s extremely exciting to see construction underway and I have no doubt that we will very quickly secure a blue-chip occupier for this facility.”