Peel completes deal for 210,000 sq ft Cheshire shed

Peel Holdings has secured a pre-funding deal that will allow the construction of a 210,000 sq ft speculative distribution building at Pioneer Business Park in Ellesmere Port, Cheshire. Arlington Securities has agreed to purchase the building upon completion for £11m, which includes a one-year rental guarantee. Tom Hoare, managing director of Arlington’s UK Logistics business, said: “This acquisition demonstrates Arlington’s commitment to an investment strategy of sourcing product in both prime and emerging locations.” Construction work is expected to commence in the next few weeks, with completion expected in October. Earlier phases at the site include a 625,000 sq ft shed development by Rosemound, 30,000 sq ft of workshop/office accommodation by Evans Easyspace and 30,000 sq ft of offices being developed by North West Industrial Estates. Cushman & Wakefield and DGI Davis George are letting agents on the Peel scheme.