The North West Evergreen Fund has made a £7m development loan to Harworth Estates to fund a 37,200 sq ft logistics site in Bolton.
The loan was structured by CBRE’s investment advisory team.
Greater Manchester Combined Authority has topped up Evergreen’s loan with £3m from its Growing Places Fund on a pari passu basis.
The funds will be used to develop construction of roads, groundworks, power, drainage and utilities on Harworth’s 250-acre site.
Supermarket chain Aldi has already chosen to relocate its regional distribution centre to Logistics North on a 35-acre plot
The North West Evergreen Fund supports the delivery of commercial property and infrastructure projects in Greater Manchester, Cumbria, Cheshire and Lancashire. European Regional Development Funding and the European Commission’s JESSICA (Joint European Support for Sustainable Investment in City Areas) programme.
sophia.furber@estatesgazette.com
