Wigan set for 50,000 sq ft industrial scheme following land acquisition
Logistics developer db symmetry and joint venture partner LGIM Real Assets, part of Legal & General, have sold off land in Wigan in a six-figure deal.
Crewe-based property business Total Developments snapped up the three-acre site, located at Ashton-in-Makerfield, for £800k.
Wigan Council has granted planning permission for a 50,170 sq ft industrial scheme on the land, which is located off Junction 25 of the M6 motorway and sits adjacent to M6 Epic 110+ on South Lancs Industrial Estate.
M6 Epic 110+, developed in a joint venture between LGIM Real Assets and db symmetry, was let to promotional merchandise company mda in January 2017.
db symmetry’s director, Andrew Dickman, said: “This sale marks the end of the asset management strategy of the 34 acre M6 EPIC industrial site that the joint venture bought in 2013.
“We would like to thank Wigan Council for their proactive approach and commitment in encouraging inward investment and subsequently creating employment opportunities for the region.”
Ed Chantler, director at Total Developments, commented: “This site is located in a well-established location, underlined by the blue-chip organisations which have already taken the decision to base themselves here.
“With the planning now secured, we will look to speculatively build the scheme in January with completion scheduled for Q3.”
CBRE, Moriarty & Co and B8RE acted for the vendor in the deal, while Legat Owen represented Total Developments.