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Warehouse REIT PLC - real estate investment trust focused on industrial property - Secures planning permission from Cheshire East Council for a further 1.0 million square foot of warehousing at its flagship logistics park development at Radway Green, Crewe. Says the final phase of the scheme will see the company develop five units ranging from 90,000 sq ft to 400,000 sq ft. Since 2017, the company has built a 102 acre site in the area, located in the north west.
Earlier this year, Warehouse REIT entered a development agreement with Panattoni, which is responsible for delivering the hub. Meanwhile, Warehouse REIT will continue to fund the build and retain it once complete.
"Benefitting from excellent arterial connectivity, Radway Green will provide state-of-the-art, sustainable warehouse space that is suitable for a diverse range of tenants seeking space in a stock starved market," comments Andrew Bird, chief executive offer of Tilstone Partners, the investment adviser to Warehouse REIT.
Current stock price: 151.50 pence, up 2.4% in London on Friday
12-month change: down 1.8%
By Sophie Rose; sophierose@alliancenews.com
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