Specialist logistics business Bishopsgate has pre-let at Rula Developments and Urban Logistics REIT’s 120,815ft2 warehouse development in Golborne, Warrington in the North West.
The 3PL though its parent company Master Removers Group has secured a 15 year lease at a rent of £7.75 per ft2.
Bishopsgate is expanding from its current warehouse at Eagle Park, Warrington and taking three times more space at this new unit, with plans to expand the business.
Charles Richards, director at Master Removers Group Ltd added: “Our logistics business Bishopsgate has over the last two years gone through an unprecedented period of organic growth and the opening of our largest warehouse to date will help sustain this growth trend over the next 12 to 24 months.”
The erection of the new Golborne site has already commenced with practical completion due in Autumn 2022.
John Sullivan, director, Industrial and Logistics Manchester at Colliers who advised on the deal said: “Industrial and logistics supply in the North West region is at a very critical level and the high level of demand, in a depleted supply environment has caused strong rental growth. Given the limited amount of industrial stock available, it was great to secure this opportunity before it hit the market. We look forward to continue working with Master Removers Group in the future.”