Preston build-to-suit site with full planning being marketed by real estate group
Cushman & Wakefield has been instructed by Titan Investor to lease a 30,000 sq ft build-to-suit development in Preston.
The scheme, at Preston East, has full planning permission and could be delivered by the first half of 2024 for occupation.
Preston East is located outside Preston on the M6 distribution corridor, 200 yards from J31A of the M6 and 3.5 miles north east of the city centre.
The industrial area serves Preston and the wider Lancashire region.
Titan Investors acquired Preston East, a 223,000 sq ft logistics scheme, for circa £30m at the end of 2022.
The first phase of the project completed in December 2022, and included the development of 75,000 sq ft of industrial space across five units, which are now fully let.
Subsequently, Titan successfully agreed pre-let contracts on three further units on the site with DHL, DPD and the Garden & Home Trading Company, during the second phase of the scheme.
The final part of the scheme is now on the market with planning consent for a 30,000 sq ft warehouse.
Rob Taylor, partner in Cushman & Wakefield’s logistics and industrial team, Manchester, said: “Since coming to market Preston East has been an incredibly popular industrial scheme.
“The shortage of Grade A industrial and logistics stock in the UK is well known, and this site presents an excellent opportunity for occupiers to stay ahead in the ‘race for space’.”
He added: “We are expecting significant interest given the potential to construct a new, custom-built facility that truly meets the needs of their business.”
