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Trebor and Hillwood acquire major redevelopment site in Crewe
September 1, 2023
Trebor Developments and Hillwood have acquired a 345,000 sq ft unit in Crewe from AEW UK Core Plus Property Fund in an off-market transaction. The unit was bought with vacant possession following Bargain Booze vacating the site earlier in 2023 and will now be fully redeveloped.
The site comprises 13 acres and benefits from having already secured detailed planning consent for a single 335,000 sq ft logistics unit which will start on site in Q1 2024. Trebor will start pre construction works, including demolition of the existing unit, this Autumn. The new unit will provide important new build, highly efficient, and sustainable accommodation to regional and national occupiers seeking space on the M6 corridor.
Greg Dalton, Development Director for Trebor commented:
“We have long held an interest in acquiring this site for redevelopment and are delighted to have reached an agreement with AEW that satisfies both parties aspirations. The deal is an example of our proactive approach to acquiring new opportunities, even against the challenging market conditions of the past 12 months, and we look forward to investing in new logistics space for the area and greatly improving on what is available on site today.”
Knight Frank (Manchester) acted on behalf of Trebor and Hillwood on the acquisition and will be retained as joint letting agents alongside Avison Young. TT&G Partners acted on behalf of AEW UK Core Plus Property Fund.