Monday, December 23, 2013

News: Harworth Estates secures £10m for Bolton scheme

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Harworth Estates, the company created to realise the property assets of what was UK Coal, has secured a £10m loan to fund infrastructure works at its Logistics North site in Bolton.

Based on the Advanced Manufacturing Park (AMP) in Rotherham, Harworth Estates is one of the largest landowners in the UK with access to over 30,000 acres of land. It is contributing to the financial cost of the new road scheme along with the other private sector developers.

One of the biggest schemes of its kind being brought forward in the North West, Harworth applied to Bolton Council to develop four million sq ft of distribution and manufacturing space at its Logistics North site, located at the former Cutacre opencast coal mine site near Bolton (pictured). Harworth has already agreed to sell the first site to Aldi, the supermarket group, for its new 450,000 sq ft regional distribution hub.

£7m will come in the form of a development loan from the The North West Evergreen Fund, "Evergreen", and the Greater Manchester Combined Authority also arranged for a further £3m to be provided from its Growing Places Fund. It will be used to fund the construction of roads, ground works, power, drainage and utilities on Harworth's 250 acre site and infrastructure works will commence in spring 2014 and be completed in 2015.

Phil Wilson, executive director at Harworth Estates, said: "This loan will be instrumental in enabling us to deliver what will be the premier logistics location servicing the North West.  Bolton Council adopted the Logistics North site within its Core Strategy Framework (2011) and was fully supportive in bringing our development forward through the planning process, as were Salford and Wigan Councils.

"Having local authorities and funds such as the North West Evergreen Fund championing key regeneration projects in the North West of England is crucial to the continuing growth of the region."

Harworth Estates website

Images: Harworth Estates

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