Caddick Completes Phase One Of £100m Development
Caddick Developments has completed construction on phase one of the £100m prime distribution and logistics scheme, Crosspoint33, located immediately off Junction 33 of the M62 near Wakefield.
The completed building will be home to the new UK processing and distribution centre for TJX Europe, the parent company of retail brands TK Maxx and HomeSense, providing more than 1.2m sq. ft. of space and making it the company’s largest distribution facility in Europe.
Planning for phase one was secured in just six months thanks to Caddick Developments’ expertise. Tritax Big Box REIT then completed the land purchase and provided £59m in forward funding for the development, which was pre-let in its entirety to TJX on a 20-year lease. Once fully operational, it will provide up to 1,800 local jobs.
Phase two has outline planning consent and can accommodate up to a further 600,000 sq ft of development on a build to suit basis.
Myles Hartley, managing director at Caddick Developments, said:
“We are proud that phase one of this landmark project is now successfully completed and set to be home to such a big name in the retail industry.
“Crosspoint33 Logistics Park is providing a huge investment boost and new employment opportunities to the local area and we look forward to securing an occupier for phase two and welcoming more big names to the site.”