A 42.5-acre development site in Cheshire has been acquired by real estate investor Firethorn Trust.
The site, purchased from Peel Ports for an undisclosed fee, can provide up to 750,000sq ft logistics warehouse accommodation, and is hoped to be used by distribution, manufacturing and storage occupiers.
Firethorn said it is currently considering "a variety of options" for the site.
Peter Mather, partner at Firethorn, said: “The opportunity to purchase a substantial freehold, multi-modal site in a recognised business and industrial location in the North West of England is a fantastic addition to our rapidly growing logistics portfolio.
"The long-term changes in eCommerce trends, paired with the reconfiguration and expansion of supply chains, has exposed a pronounced shortage of fit-for-purpose Grade-A warehousing solutions, particularly in this region.
“Our strategic acquisition of this site within an LDO reflects our vision to respond quickly to increasing demand within the logistics sector, by developing high-quality solutions and unlocking the potential of development sites in strategic locations.
“We plan to develop a highly-sustainable scheme with modern facilities and amenities that will benefit both occupiers and their employees, and continue to drive investment into the local area.”
Firethorn said the site has the benefit of sitting within a Local Development Order designation that permits new industrial buildings up to 25m in height, enabling development to start quickly next year.
Andrew Martin, group land and property director at Peel Ports said: “We are very pleased to have concluded the sale of the Port Cheshire site to Firethorn Trust.
"We look forward to supporting Peter and his team in bringing forward further development at this multi-modal site.”
Firethorn Trust was advised by CBRE and Peel Ports Group was represented by B8 Real Estate and JLL.
