Panattoni picks up 16-acre Atom Valley site
The industrial specialist has acquired a plot within Greater Manchester’s Northern Gateway, for what will be the mayoral development zone’s first speculative logistics development.
The site is within Russell LDP’s HPARK site in Heywood, within the Atom Valley Mayoral Development Zone.
It benefits from direct connectivity to the strategic road network via Junction 19 of the M62 and easy access to Junction 3 of the M66.
Panattoni will work closely with Russell LDP to amend the existing planning consent and plateau the site before bringing forward a £75m development.
The acquisition coincides with the recently announced Greater Manchester Combined Authority’s £52.1m commitment to highway improvements into Northern Gateway from Junction 3 M66.
Northern Gateway is the largest single development site in Atom Valley, an employment location of around 1,000 acres stretching across Rochdale and Bury’s boundaries that has been identified as a priority destination for advanced manufacturing, logistics and industrial investment.
Atom Valley as a whole encompasses 17m sq ft of flexible employment space and has the potential to support 20,000 new jobs and 7,000 new homes.
The aim for HPARK is for it to deliver 2.1m sq ft of high-specification, flexible space, including larger combined units. Targeting BREEAM Excellent and an EPC A rating, it also offers strong sustainability credentials and a high power capacity.
GMCA’s planned highway improvements include a western access route from Junction 19 of the M62.
Daniel Burn, head of development: North West & Yorkshire at Panattoni, said: “Northern Gateway at Atom Valley is one of the most significant advanced manufacturing, industrial and logistics opportunities in the North of England.
“With the opening of the new link road to the M62 and the recent announcement of over £52.1m of public investment to bring forward the new Western Access to the M66, the conditions are in place to move quickly and get building. We are delighted to be working with Russell LDP to bring forward the first development on Northern Gateway and look forward to demonstrating what is possible at this site.”
Cllr Danny Meredith, portfolio holder for regeneration at Rochdale Council, said:“Northern Gateway, as a key part of Atom Valley, is a clear signal of momentum in delivering the kind of growth Greater Manchester needs – growth that is inclusive, sustainable and rooted in opportunity.”
Andrew Russell, joint managing director at Russell LDP, said: “The first transaction at HPARK marks a significant milestone for the scheme. Securing the first plot sale is a strong endorsement of the site’s location, connectivity and scale.
“The deal with Panattoni underlines continued demand for high-quality industrial and logistics space across the North West, and sets a positive tone for future activity at HPARK. We are already seeing strong interest in the remaining plots and look forward to bringing forward the next phase of development.”
DWF acted as legal adviser to Panattoni. Freeths acted as legal adviser to Russell LDP.
