Building begins at £100m logistics hub set to create 1,800 jobs
CONSTRUCTION firm Caddick has begun work on Crosspoint33 in Wakefield, a £100m logistics hub for TK Maxx which promises 1,800 jobs in the area.
The Wakefield site will be home to the UK processing and distribution centre for TK Maxx, with more than 1.2m sq ft of space.
Building work is set to be completed in January 2017 on the site, located off Junction 33 of the M62.
Caddick Developments and sister company Caddick Construction is undertaking all building works.
The TK MAXX building has been forward sold to specialist logistics investor Tritax.
Myles Hartley, managing director at Caddick Developments, said: “We are delighted work has now started on site on this major new project which will provide a huge investment boost and many new much needed jobs to the local area.
“We are very grateful for the support of various partners, especially Wakefield Council who have helped bring this exciting scheme to fruition.”
The site can accommodate a further 535,000 sq.ft of development on Phase two on a build to suit basis.
Paul Hunter, group operations director, TJX Europe, said: “This is an exciting moment in the future growth of TJX Europe. We are delighted that we will continue to be part of this community, welcoming our existing associates to the new processing centre and creating many additional employment opportunities over the forthcoming years. We look forward to being open for business in 2017.”
Dove Haigh Philips acted for Caddick Developments in respect of the letting to TK MAXX and the project funding. The tenant was represented by SBH and Wimbush Real Estate acted for Tritax.
Mike Dove, partner at Dove Haigh Phillips, said: “Crosspoint33 is ideally located for accessing local, regional and national transport routes, coupled with close proximity to the local workforce. This fast track delivery for a world class occupier is a step change transaction for the West Yorkshire industrial property market ‘’
The project is also being grant supported by the Leeds City Region Enterprise Partnership (LEP). Roger Marsh, chairman of the LEP, said: “This is an important investment to bring new jobs and economic opportunities into Wakefield and the surrounding areas.
“The LEP grant supports the high initial costs of providing roads and services on this strategic site, not just to support the retention of TK Maxx, but also to help the development and job creation for the second phase, opening up a wealth of further investment opportunities for the future.”
