A funding deal has completed between Caddick Group, Goldman Sachs Asset Management and Canmoor, which will see work commence on a new employment hub in Leyland, Preston. Following planning approval earlier in the year, construction is underway targeting delivery of the 544,000ft2 warehouse in July 2023.
The scheme will be the biggest speculative development of its type in the North West this year, addressing the acute demand for quality logistics and warehousing space. Situated with direct links to M6, M65 and M61 motorway networks the development offers excellent connectivity to the whole of the Northwest region.
The Connect 6, Preston, is expected to bring over 1,000 jobs to the area once complete, and around 600 jobs during construction, which will be carried out by Caddick Group business, Caddick Construction North West. The building will reach practical completion in July 2023 and will be built to BREAM Excellent accreditation.
Steve Widdowson, Head of Caddick Developments in the North West, said: “The deal means we can push ahead with developing out the site and help introduce much-needed capacity into the Industrial and Logistics market in the North West.”
Caddick Group were represented by JLL on this scheme.