Deal for 673,000 sq ft of warehouse space in Haydock and Knowsley

Property investment and development company Industrial North West has let 673,000 sq ft across two of its main industrial schemes to Fortune 500 healthcare services and logistics company, Movianto.

Movianto is set to relocate from its existing premises in Knowsley to a new 373,000 sq ft unit at Haydock Green in St Helens, when the scheme completes at the beginning of next year.

This is part of its planned expansion, having agreed a 15-year lease and will create at least 200 new jobs for the local area.

Movianto has also agreed a new lease at Industrial North Wests’ speculative industrial scheme, Titan Knowsley, where it will take a further 300,000 sq ft.

Haydock Green is a £62m industrial scheme totalling 500,000 sq ft and is situated on a 27 acre site adjacent to J23 M6 and the East Lancs Road.

Industrial North West secured planning for the speculative scheme in August of last year and, in addition to the 373,000 sq ft unit, has also started on site with the second unit – a 125,000 sq ft speculative build warehouse which will be ready for occupation in June 2019.

B8 Real Estate has been retained as the sole letting agents. The quoting rent is £6.50 per sq ft.

Titan is a £35m industrial and manufacturing scheme fronting the A580 East Lancs Road and is currently undergoing a comprehensive £12m refurbishment.

This will provide 505,000 sq ft of fully refurbished space with planning to be submitted for a further 165,000 sq ft of new build space.

B8 and Mason Owen are the joint letting agents.

Matt McConville of Industrial North West said: “As an established investor and developer in the North West, we have continued to build on our existing portfolio and are currently on site with 1.1m sq ft of new or fully refurbished industrial accommodation, this will be delivered in full over the next 12 months.

“Industrial North West remains committed to playing its role in the ongoing growth of the North West, in Haydock alone we have invested in excess of £120m over the last 10 years having developed over 1.8 million sq ft of industrial space.”

Jon Thorne, of B8 who advised on both transactions, added: “The Haydock Green letting to Movianto represent the North West’s largest industrial letting this year and shows the strength of the market with planning only having been secured on the site less than 12 months ago.

“Haydock Green will be one of the most high profile sites in the region and we already have strong interest in the speculative unit.

“Titan will provide the best second-hand space of its type in the region and we are really excited to see the completion of the building’s transformation. We already have strong interest in the balance of the space, so hope to announce further lettings in due course.”

Colin Duncan, of Fairfield Real Estate Finance who provided debt finance on both transactions, said “We are delighted to be involved in a project of this magnitude and quality which confirms our appetite for development funding in the UK and Ireland.

“Since being formed in summer 2016 Fairfield has provided in excess of €600m of debt funding and we continue to back property developers and investors to maximise their business growth potential.”

Knight Frank represented Movianto.