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Raven Locks is 82% full six months on from completion. Credit: via JLL

Peloton heads to Raven Locks

Neil Tague

The fitness tech business is to occupy a 39,000 sq ft unit at the Salford industrial scheme, completed by Network Space in April and now owned by logistics operator Mileway.

Peloton follows Ulster Weavers and the Howarth Group in signing at the Little Hulton development. JLL, agent for the landlord with DTRE, said the business will be joined at the site by an online retail company taking 29,000 sq ft.

Both businesses have agreed to 10-year leases. CBRE acted for Peloton.

Following its completion in April, the 172,000 sq ft six-unit property is now 82% leased. Occupying a 14-acre site on Ravenscraig Road, it comprises six detached, self-contained spaces of between 29,000 sq ft and 61,000 sq ft and a terrace of three units ranging from 11,000 sq ft to 19,000 sq ft.

The scheme is located close to Junctions 3 and 4 of the M61.

Network Space developed Raven Locks as one of several projects delivered in partnership with InfraRed Capital Partners. InfraRed agreed to sell it in March as part of a portfolio transferred to Mileway, investment giant Blackstone’s pan-European last-mile logistics platform.

Robert Kos, industrial and logistics director at JLL, said, “Raven Locks offers excellent Grade A space, bolstered by the local amenities and motorway access. The scheme has been very successful to date which is reflective of the current market with limited Grade A space and a strong level of demand.”

Philip Cridge, country director for the UK within Netherlands-headquartered Mileway, said: “We are really pleased to welcome a number of new clients at Raven Locks, which is a fantastic site.

“In Salford and across the UK, we continue to see strong demand for high-quality last-mile properties which help businesses fulfil their growth ambitions and connect to the communities they serve.”

Aew Architects designed the scheme, which Portal Construction delivered for the developer.

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