US property group acquires Heywood industrial site for development
US global developer and investor in commercial real estate, Trammell Crow Company (TCC), has acquired the freehold of a 27.8-acre site near Manchester from Telereal Trillium, for an undisclosed sum.
The site, on Manchester Road, Heywood, offers development opportunity for around 475,000 sq ft of Grade A logistics space, featuring excellent transport links at an already well established industrial area.
Just five minutes from Heywood Distribution Park, the site is located within one mile of junction 19 of the M62, four miles of three major motorways – the M60, M62 and M66 – and an hour’s drive from the Port of Liverpool, Manchester Airport, Liverpool John Lennon Airport, and Leeds Bradford Airport.
Mike Forster, head of UK logistics at TCC, said: “Located in a prime logistics market and with outstanding transport links, our latest UK acquisition has significant potential.
“As with our other sites in the UK, on which we have secured planning consent due to a collaborative approach with local authorities and communities, we plan to develop a logistics asset that is environmentally sustainable and socially beneficial.
“This site will create new jobs for local people, both in its development and when it’s operational, replacing an old and no longer fit-for-purpose space with one that is well designed, environmentally friendly, and makes a positive impact in Heywood and the surrounding area.”
Jonny Pitts, director – planning and disposals at Telereal Trillium, said: “Since the previous tenant served notice, our team has worked to establish the site’s existing lawful use, procure a detailed technical pack and present a highly attractive opportunity to the market.
“Following significant buyer interest, we are excited to have selected Trammell Crow Company to take the site forward using its extensive experience and knowledge of the sector.”
The Heywood site is TCC’s third in the UK. Since its first UK acquisition in August 2021 of a former Arcadia distribution centre in Milton Keynes, it has since acquired a site in Sheffield and secured planning permission to deliver Grade A logistics assets on both.
TCC has also recently acquired its first site in Germany and entered into an exclusivity agreement on a second.
