Panattoni leases speculatively developed 280,700 sq ft logistics unit in Bolton to UPS
Panattoni, the largest industrial real estate developer in Europe, has signed a lease agreement with UPS, one of the world’s largest package delivery companies, for a 280,700 sq ft speculatively developed facility at Bolton.
UPS has signed a 10-year lease for the largest of the two facilities at the 360,700 sq ft Panattoni Park Bolton, which has a BREEAM sustainability rating of ‘Very Good’ and an EPC rating of ‘A’. The facility, which has a 15m clear internal height, 24 dock doors and five-level access doors, was completed in September. It is expected that more than 280 jobs will be created.
The first unit of 80,000 sq ft was pre-let in January to Hermes Parcelnet, one of the UK’s largest parcel delivery companies.
Panattoni Park Bolton is close to junction 6 of the M61, providing easy access to the key ports of Liverpool to the west and Hull to the east; the M6 is less than 15 minutes drive, providing access to Scotland, the wider north west and the Midlands.
Dan Burn, Development Director for the North West and Yorkshire at Panattoni, said: “Panattoni Park Bolton is the only development of its size and scale to have been built in Greater Manchester this year. The fact that we have let the two units to two global delivery companies reflects their confidence in this region.
“The town has the second highest employee base in Greater Manchester, yet with wages below the regional average labour costs remain attractive, as does the good mix of skills among the workforce. Employment in the logistics sector is considerably higher than both the regional and national average”.
DTRE, Savills and Knight Frank were the letting agents and TSL Projects was the contractor.