Panattoni has acquired a 16-acre industrial and logistics development site at HPARK, within Atom Valley in Greater Manchester, for an undisclosed price.
Russell LDP is the developer for HPARK, which will deliver 2.1m sq ft of high-specification, flexible space, including larger combined units. The site will be plateaued in preparation for development, which Panattoni intends to bring forward as rapidly as possible.
A revised planning application to increase the approved building area will be submitted in the coming months and Panattoni will work with Russell LDP to amend the existing reserved matters consent and progress infrastructure delivery across the site.
Daniel Burn, head of development: North West and Yorkshire at Panattoni, said: “Northern Gateway at Atom Valley is one of the most significant advanced manufacturing, industrial and logistics opportunities in the North of England. With the opening of the new link road to the M62 and the recent announcement of over £52.1m of public investment to bring forward the new Western Access to the M66, the conditions are in place to move quickly and get building. We are delighted to be working with Russell LDP to bring forward the first development on Northern Gateway and look forward to demonstrating what is possible at this site.”
Danny Meridth, portfolio holder for regeneration, added: “Northern Gateway, as a key part of Atom Valley, is a clear signal of momentum in delivering the kind of growth Greater Manchester needs – growth that is inclusive, sustainable and rooted in opportunity. Supported by the new Western Access to the M66 and backed by £52.1m of public investment, we are laying the foundations for long-term success.
“This is about creating real opportunities for people in Rochdale, Bury and Oldham, supporting high-quality jobs, driving investment and opening up new employment pathways that benefit local communities. By bringing forward developments like this, we are ensuring that the success of Atom Valley is felt by residents and businesses, now and into the future.”
Andrew Russell, joint managing director of Russell LDP, said: “The first transaction at HPARK marks a significant milestone for the scheme. Securing the first plot sale is a strong endorsement of the site’s location, connectivity and scale. The deal with Panattoni underlines continued demand for high quality industrial and logistics space across the North West, and sets a positive tone for future activity at HPARK. We are already seeing strong interest in the remaining plots and look forward to bringing forward the next phase of development.”
DWF acted as legal adviser to Panattoni and Freeths acted as legal adviser to Russell LDP.
