Airport City land deal may create 5,000 jobs
PRIME development land has been snapped up within Airport City Manchester which could create up to 5,000 new jobs.
Icon Industrial, a joint venture between TPG Real Estate and Stoford Developments, has acquired 45 acres at Global Logistics in a deal thought to be valued at £29m.
The area is currently home to Amazon and DHL.
The sale could also create a further area of logistics space within Air- port City, which has so far seen the creation of over 2,000 new jobs and attracted substantial investment across the 821,000 sq ft.
Lynda Shillaw, MAG Property CEO, said: “The sale of 45 acres at Global Logistics is a significant milestone and builds upon the £30m of investment made by the joint venture to date.
“Airport City Manchester is a really exciting location for occupiers, located at the southern growth node of the region, an already well-established business location alongside the Manchester Air- port campus. This transaction comes at an exciting time for the Airport City Manchester joint venture as momentum is building around the first new offices and hotels planned to start on site.”
The latest deal means that 75 acres of a total 130 acres across Airport City Manchester has now been transacted by the Joint Venture Partners, Manchester Airports Group (MAG), Beijing Construction Engineering Group International (BCEGI), Carillion and Greater Manchester Pension Fund (GMPF), since 2014.
Simon Eastwood, man- aging director of Carillion Developments, said: “The progress we have made at Global Logistics has been strong and has set the pace for what will be delivered at Airport City Manchester. Across the site, we’re in advanced discussions with a number of potential major occupiers who require campus style offices and there continues to be strong interest from hotel operators, which on the back of the growth of the airport, see clear benefits of this location.”
Enterprise Way, which will be completed by February 2018, will connect office and hotel development plots within Airport City North to the rest of the site and the wider transport network.
This latest project is part of the £30m investment that has been committed by the Airport City.