Barings to fund €47m for logistics warehouse in Greater Manchester

Barings has agreed to forward fund a £42.5 million (€47.1 million/$56.8 million) logistics warehouse development with Panattoni in Bolton, Greater Manchester, United Kingdom, on behalf of a core investment strategy.

The project is being delivered on Wingates Industrial Estate, an established logistics and light industrial location, and once completed will comprise 358,500 square feet of new class A space across two units. The first unit of 77,800 square feet has already been pre-let to delivery company, Hermes Parcelnet, on a 15-year lease and will be used as a parcel depot. The second and larger property offers 280,700 square feet and will be developed speculatively.

Located in a prominent distribution location one mile from J6 of the M61 motorway, seven miles from the M60/M62 motorway and just 22 miles from Manchester Airport, the development is well positioned to serve the Greater Manchester and the wider North West regions, as well as Yorkshire and the Midland