Major shed snapped up for redevelopment
A 345,000 sq ft unit in Crewe has been acquired by Trebor Developments and Hillwood in an off-market deal.
The shed is set to be redeveloped after it was bought with vacant possession from AEW UK Core Plus Property Fund, following the departure of Bargain Booze earlier this year.
Comprising 13 acres, the site has already secured detailed planning consent for a single 335,000 sq ft logistics unit with work beginning in Q1 of 2024.
Trebor will start pre-construction works, including the demolition of the existing unit, this Autumn.
Greg Dalton, development director for Trebor said: “We have long held an interest in acquiring this site for redevelopment and are delighted to have reached an agreement with AEW that satisfies both parties aspirations.
“The deal is an example of our proactive approach to acquiring new opportunities, even against the challenging market conditions of the past 12 months, and we look forward to investing in new logistics space for the area and greatly improving on what is available on site today.”
Knight Frank (Manchester) acted on behalf of Trebor and Hillwood on the acquisition and will be retained as joint letting agents alongside Avison Young. TT&G Partners acted on behalf of AEW UK Core Plus Property Fund.
