HPARK could not have been launched at a better time say the scheme’s appointed agents, after the latest The Big Shed Briefing found there is less than six months’ supply of ‘big sheds’ in the North West.
The report says there is only 2.23m sq ft of speculative space under development and that demand is expected to significantly outstrip supply this year.
Crucially, the report also stated there is a lack of top specification Grade A space, despite a clear demand for higher quality facilities from operators, and the majority coming through is smaller units.
But with 1.45m sq ft of bespoke design and build space available, HPARK will be the solution operators have been waiting for according to its agents.
With a Grade A core specification, high sustainability ratings and employee well-being front and centre, the new 120-acre manufacturing and logistics park in Heywood covers all the bases.
The development has outline planning for up to six units, ranging in size from 39,000 sq ft to 688,000 sq ft. The largest of which – H-688 – is shovel-ready with full planning in place.
Paul Cook, head of industrial and logistics at CBRE said his own findings showed there was even less space actually under construction at around 1.4m sq ft.
He said: “With the majority of the upcoming supply already pre-let, there is a lack of stock available throughout the North West. The opportunity presented with the launch of HPARK, adding 1.45m sq ft to the market is, therefore, incredibly timely. And with H-688 fully-approved, there’s a really exciting opportunity for an operator to begin construction immediately.”
John Sullivan, industrial specialist from Colliers added: “With HPARK, operators have the chance to secure a highly sustainable bespoke designed unit on a development with significant employee amenities in the region’s premier distribution location. Those facilities could start to come online within 18 months for any operators already in the market to relocate or establish new premises in the North West.”
HPARK is being brought forward by north west property and construction group Russells. It will be delivered by development specialists Russell LDP and built by award-winning main contractor Russell WBHO.