TT Group completes sale of 28-acre prime industrial site near Manchester to Trammell Crow Company
TT Group has completed the sale of a 28-acre industrial site in Manchester Road, Heywood to leading global developer and investor in commercial real estate, Trammell Crow Company.
The site offers a development opportunity for c. 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.
The Department for Work and Pensions has occupied the property for over 20 years and will be vacating in March 2023.
Jonny Pitts, Director – Planning & Disposals at TT Group, 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.”
Mike Forster, Head of UK Logistics at Trammell Crow Company, 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.”
With the recently approved Russel Group H-Park development located directly to the South and West of the site, the local area will benefit from up to 2m sq ft of employment space and 1,000 new build residential units. There is also a new 2km link road currently under construction immediately south of the site and due to be completed later this year, improving access to the J19 of the M62, and the wider regional motorway network.