Developers HBD and Barnfield Group have acquired a 25ha site in Lancashire in a deal that paves the way for an 800,000 sq. ft. industrial and logistics scheme.
Sitting to the east of the established Roman Way Industrial Estate, it is designated as an employment site within Preston City Council’s Local Plan.
Planning proposals for the scheme were submitted in summer last year and, if given the green light by planners, has the potential to create around 1,500 new jobs. It will be the JV partners’ second project in Preston following the £30m sale of its EAST development to Titan Investors at the end of last year.
Ed Hutchinson, Managing Director of HBD, said: “It’s great to be able to continue our successful partnership with Barnfield with the acquisition of this latest site. The deal reflects HBD’s continued focus on delivering high-quality, sustainable industrial and logistics space in prime locations. Just over a mile from the M6, this site is extremely well located and would no doubt see strong interest from potential occupiers, particularly given the shortage of Grade A space along key corridors.”
Tracy Clavell-Bate, Head of Development for Barnfield Group, said: “We are looking forward to working again with HBD on this significant project for us as a developer and for Preston. It also secures 800,000 sq. ft. of build for our contracting arm, Barnfield Construction.”
HBD and Barnfield Group hope to secure planning permission this summer, commencing infrastructure works in the Autumn.
HBD and Barnfield Group have worked closely with Preston City Council since 2020 when pre-application discussions began. A range of technical experts and specialist consultants have provided a host of assessments covering flood risk and drainage, ecology and arboriculture, highways, acoustics, geology and geo-environmental considerations.
The proposed scheme would be the latest of several successful industrial and logistics developments delivered in partnership by HBD and Barnfield Group. EAST, an 18-acre strategic development site is now home to occupiers including DHL and DPD and was sold to Titan Investors in a £30m deal. The JV also regenerated an 11.5-acre strategic gateway site in Huyton, creating upwards of 350 new jobs.
HBD is one of the country’s most well-established property developers. Part of the Henry Boot Group, it boasts an impressive track record, strong financial backing and a reputation for delivery that has seen it become the partner of choice for local authorities, investors and developers. Working with a £1.2bn development pipeline, it has seven UK offices from Glasgow to London and focuses on two key sectors; Industrial and Logistics and impactful, large-scale urban regeneration development.
Based in the North West of England, Barnfield Group Ltd are contractors, developers and investors active on over 30 sites throughout the UK. The organisation is a market leader in its field, with an excellent track record in every sector of the industry. The business is based on developing successful partnerships, ensuring all development and construction projects are completed on time, and to the highest of standards.
Advisors on the deal included JMW Solicitors, Gerald Eve and Eckersley & Co who all acted for the purchaser. Dean Young at Young and Co Property Consultants acted for the vendor.