International parcel company UPS has taken the last remaining warehouse at industrial real estate developer Panattoni’s Panattoni Park Bolton in the North West.
UPS has signed a 10-year lease for on a 280,700ft2 warehouse, the largest of the two facilities at the 360,700ft2 scheme, which has a BREEAM sustainability rating of ‘Very Good’ and an EPC rating of ‘A’. The facility, which has a 15m clear internal height, 24 dock doors and five-level access doors, was completed in September. It is expected that more than 280 jobs will be created.
The first unit of 80,000ft2 was pre-let in January to Hermes Parcelnet.
Dan Burn, Development Director for the North West and Yorkshire at Panattoni, said: “Panattoni Park Bolton is the only development of its size and scale to have been built in Greater Manchester this year. The fact that we have let the two units to two global delivery companies reflects their confidence in this region.
“The town has the second highest employee base in Greater Manchester, yet with wages below the regional average labour costs remain attractive, as does the good mix of skills among the workforce. Employment in the logistics sector is considerably higher than both the regional and national average”.
Panattoni Park Bolton is located on a 21.7 acre brownfield site on the Wingates Industrial Estate, close to Junction 6 of the M61 motorway.
Logistics Manager reported that the development had secured forward funding to the tune of £42.5 million through Real estate investment manager Barings in December last year.
DTRE, Savills and Knight Frank were the letting agents and TSL Projects was the contractor. Barings was advised by Knight Frank and CMS.