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Warehouse REIT secures 1msf planning consent at former factory in U.K.
Transactions - JULY 29, 2022

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Warehouse REIT secures 1msf planning consent at former factory in U.K.

by Released

Warehouse REIT has secured a resolution to grant outline-planning permission from Cheshire East Council for 1.02 million square feet of warehousing at its flagship logistics park development at Radway Green, former Royal Ordnance Factory (ROF), near Alsager in Cheshire in the United Kingdom.

The final phase of the scheme will see the Warehouse develop five units ranging from 90,000 square feet to 400,000 square feet, and the result of the hybrid application also saw detailed permission for highway access to the site secured.

The logistics-market dynamics in the Northwest include vacancy rates at record lows (3 percent) and first half take-up 103 percent above the long-term average for the first half of the year. Savills recently highlighted a dearth of high-quality stock, suggesting that actual rental growth in the region will exceed the forecast of 19.4 percent during the next five years.

Andrew Bird, CEO of Tilstone Partners, the investment adviser to Ware

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