A funding deal has been agreed between Caddick Group, Goldman Sachs Asset Management and Canmoor, which will see work commence on a new employment hub in Leyland, Preston. Following planning approval earlier in the year, construction is underway targeting delivery of the 544,000 sq. ft. warehouse in July 2023.

The scheme represents a considerable investment in the region and will be the biggest speculative development of its type in the North West this year, addressing the acute demand for quality logistics and warehousing space. Situated with direct links to M6, M65 and M61 motorway networks the development offers excellent connectivity to the whole of the North West region.

The Connect 6, Preston is expected to bring over 1,000 jobs to the area once complete, and around 600 jobs during construction, which will be carried out by Caddick Construction North West. The building will reach practical completion in July 2023.

Steve Widdowson, Our Head of Developments in the North West, said:“

Connect 6, Preston is an incredibly exciting scheme and we’re delighted to have investors of the calibre of Goldman Sachs and Canmoor coming on board to take this development forward. The deal means we can push ahead with developing out the site and help introduce much-needed capacity into the Industrial and Logistics market in the North West. Caddick’s vertically integrated offer has once again demonstrated the value of being able to act fast in addressing supply-shortages in quality locations.”

Farbod Nia, Managing Director at Goldman Sachs Asset Management, said:

“This investment aligns with our wider strategy to deliver best in class logistics space in well-connected, high-quality locations, specified to meet the requirements of modern occupiers and the highest sustainability standards. The building will help address the supply and demand imbalance in the North West market by providing occupiers with greatly needed space. We look forward to working with our partners Canmoor and Caddick Group on this exciting development”

Tom White, Director at Canmoor, said:

“This development addresses an acute need for this type of development in the North West of England. Moreover, the scheme is set to lead the way from an environmental point of view, being BREEAM Excellent rated, whilst enjoying unparalleled links to local infrastructure.”

 

 

We are delighted to announce Caddick Group have been shortlisted for Transaction of the Year at The Yorkshires Residential and Real Estate Awards 2022.

This award brings together property developers or teams who have concluded a significant residential property deal (purchase or sale) between June 2021 and June 2022.

This award reflects a residential deal which has made a significant impact on the landscape of the Yorkshire residential property sector. This could be related to knowledge, lateral thinking, innovation in the structure/securing of the deal, or the positive economic impact the transaction could have in years to come.

Our nomination is on behalf of our second phase of SOYO Leeds.  Federated Hermes BTR brand Hestia have appointed us to bring two new residential blocks to Leeds, designed to offer high quality rental accommodation at an accessible, mid-market price point – opening a new niche in this rapidly growing sector.

 

Funding has been secured to progress a major employment site at Leeds Valley Park, on the southern gateway to the city, which could directly support 500 new jobs. The investment by the Greater Manchester Pension Fund (GMPF) in a £49.3m deal, means the scheme can now be progressed to service the exceptional levels of demand which are being experienced in the city.

The site, is set to become the city’s premier urban logistics location. Just 15 minutes south of Leeds City Centre, it boasts unrivalled motorway connections, being located between junction 44 of the M1 and junction 7 of the M621. The scheme is set to provide significant employment opportunities for the local area, whilst also providing improvements to local footpaths, including connectivity to the nearby Stourton Park & Ride.

The project will deliver 300,000 sq ft of high-quality warehouse space across six units, ranging between 25,000 and 70,000 sq ft, constructed to an institutional standard and ready for occupation in autumn 2023.

Our Director,Jim Dyson, said: “This is a Grade A location in a Grade A city. We are seeing exceptional demand for well-connected developments in this area and Leeds Valley Park ticks all of the boxes, being so close to major motorways linking the north, south, east and west. Having the backing of a major funder in the Greater Manchester Pension Fund, has allowed us to bring the true potential of this site forward, which will help to contribute to the economic success of Leeds and the surrounding areas.”

Kevin Etchells, senior investment manager at GMPF, said: “We are delighted to be partnering with Caddick Developments to deliver such a prime urban logistics site. The investment will create much needed space and will provide a boost to the local economy, whilst also offering a strong risk adjusted return for the pension fund.”

The scheme is set to be delivered to BREAAM ‘very good’ status, with elements of work earmarked to enhance local biodiversity, and significant consideration being given to the overall sustainability features for the site. Caddick Construction is set to begin works immediately on site, with completion due in autumn 2023.

Interest has already been indicated by businesses in the distribution, retail, and light manufacturing sectors and the site is now actively being marketed by Avison Young and Carter Towler.

The scheme was designed by KPP Architects and BWB Engineers. Quod acted as planning consultants for the project, whilst Pinsent Masons acted for Caddick on the transaction. Addleshaw Goddard acted for GMPF. JLL provided funding advice to Caddick and Avison Young, as retained advisor to the Greater Manchester Pension Fund, advised them on the purchase.

 

We have welcomed a number of new recruits as we look to boost our land pipeline, procure more sites for development and manage our expanding portfolio of completed schemes. Alexandra Walsh, Joe Hardy, and Steph Livesey have all joined the business over recent months, as part of a raft of new recruits helping us to grow across our core areas.

Alexandra Walsh joins our Caddick Land team as a Land and Planning Manager. Before joining us, Alexandra spent over 6 years at Avison Young (formally GVA) and had also worked within the Planning Policy Department at the City of York Council. Alexandra brings a diversity of experience in property matters across the public and private sector. Her role now involves promoting prospective sites through the planning process creating new opportunities for both residential and employment projects.

Joe Hardy joins us as an Acquisitions Analyst, having graduated from his MSc in Property Development and Planning with a distinction from Nottingham Trent University. Joe completed a work placement apprenticeship with us last July and has since been accepted to join the company full-time. He has been working with the Land team to identify sites across the country for future residential and employment development, helping to expand the Group’s forward pipeline.

Steph Livesey completes the list of new starters, having joined this summer. Steph’s previous role was with a local estate agent as a commercial property manager and alongside working, she continues to study at the University of Estates College Management and is working towards her degree in Real Estate Management with an aim to become a chartered surveyor by 2025. She will be working with the Group’s existing asset management team, helping to manage and promote the new spaces and places that are being added to the company portfolio.

Myles Hartley, our MD commented: “We’ve seen sustained and healthy growth over recent years and our vertically integrated strategy as a Group is opening up new opportunities all the time as we adapt quicker than our competitors to evolving market conditions. With the breadth of services available across the Caddick Group, and an agile end-to-end offer, Caddick is in a prime position to see further success in the coming years.

“I am very pleased that we have our new members on board to help play an important part in furthering Caddick Group’s success across the residential and industrial sectors. These new hires demonstrate strength in depth, and the draw that the Caddick name has within the sector as an employer.

“Having invested in the future of the Yorkshire region and beyond, it’s great to see some new hires joining directly from the Caddick apprenticeship schemes. The scheme ensures commitment to growth and continues to go from strength to strength. I’m hugely positive to see what opportunities our new hires bring.”

We have submitted plans for a new landmark development in Leeds, which would create a vibrant community of new homes, offices, retail, leisure and community uses, as well as extensive green public open space within the emerging South Bank neighbourhood.

The scheme aims to create a green, attractive and sustainable neighbourhood, incorporating a new linear park along Sweet Street and a large central open space on a similar scale to Park Square.

The proposed development, located just off Meadow Road to the South of the city centre, would repurpose a large brownfield site, bringing up to 1,925 new homes (around 25% of Leeds City Council’s target for new city centre provision) to address housing needs in the city and help regenerate the area.

The masterplan, designed by award winning architects, Simpson Haugh, will deliver new high quality homes, including a mix of studios, 1,2 and 3 bed apartments subject to planning approval. New office, retail, and commercial space – including around 650,000sq ft of Grade A office space – would provide an economic boost to the local community and create provision for around 4,000 new jobs once complete, whilst supporting around 10,000 during construction. The overall scheme would help to bridge different parts of the city in the emerging South Bank district.

The brownfield site, which is located near to Meadow Road, Sweet Street and Jack Lane, was previously used as a surface car park, but plans set out a vision to create a vibrant community, which further extends the city centre, and helps to improve connections with Holbeck. The development will showcase as its centrepiece a curated green space, with different parts of the development planted with native trees and shrubbery, to provide residents and members of the public with significant outdoor space to relax and socialise.

Our Managing Director Myles Hartley said:

“Our proposals for this site are incredibly exciting as we look to create a new community, significantly boosting housing provision within the expanding city centre. The development is designed to meet the highest environmental standards and our architects have worked to ensure that green, sustainable, open space plays a vital role in the overall plan for the area.

“We have worked closely with local partners and consulted with the community to create plans for a development everyone can be proud of. Leeds is our home city and we’re excited to be bringing forward proposals signalling a new chapter for this part of the South Bank.”

Plans have been put forward to Leeds City Council setting out the principle and outline plans for the development. If successful, this will be followed up by a more detailed ‘reserved matters’ application, to agree specifics. The development will comprise of around ten feature buildings, interwoven with new amenities and extensive green open spaces and landscaping accounting for around 50% of the overall site.

 

Read more:

Property Week: https://www.propertyweek.com/news/caddick-submits-2m-sq-ft-mixed-use-plans-for-leeds-city-centre/5121281.article

React: https://reactnews.com/article/caddick-lodges-plans-for-2m-sq-ft-leeds-mixed-use-scheme/

Insider: https://www.insidermedia.com/news/yorkshire/2000-home-south-bank-plans-come-forward

Bdaily: https://bdaily.co.uk/articles/2022/07/11/massive-2-million-sqft-plans-submitted-to-extend-leeds-city-centre

Yorkshire Post: https://www.yorkshirepost.co.uk/business/around-4000-jobs-and-1925-homes-could-be-created-under-new-plans-for-leeds-south-bank-3763491

Caddick Construction, on behalf of Caddick Group and AAA Property Group, has completed 180,000 sq ft of commercial space at Moor Park 25, Mirfield, West Yorkshire.

The second phase of this industrial and logistics development includes five new buildings ranging from 19,000-59,000 sq ft.

The development at Moor Park 25, located in close proximity to Junction 25 of the M62, started in 2019. Phase 1 completed in 2020 and was immediately let to Incora, the aeronautics supply chain specialist. We subsequently ‘forward sold’ this next phase of five units to AAA Property Group, which also purchased the Phase 1 building as part of its expansion into the industrial and logistics sector.

Identified as one of 10 Enterprise Zones across Leeds City Region, it is set to inject a cash boost of up to £12.5million to the local economy. All five new units are in advanced negotiations.

Caddick Construction, with support from KPP Architects, was retained for both phases and worked alongside structural and engineering consultancy Dudleys, engaged specifically to support Phase 2.

 

Myles Hartley, Our Managing director said:
“With demand for light industrial and logistics floorspace continuing to grow a-pace, we’re delighted to be delivering what growing local and regional businesses want. It’s great seeing the project come to completion, and we look forward to the benefits it will bring to the region’s economy and growth.”

Chris Wilson, Commercial Development Director, of Caddick Construction said: “It’s great to see such demand for the units resulting in the scheme being fully let well before completion. The quality of the build, its facilities and prime connectivity to the M62 corridor are all particularly sought after in the north, in a very competitive market.”

Anil Chima, director of AAA Property Group added:
“We are delighted to have been able to work with fellow Yorkshire-based Caddick, and be able to bring forward a scheme that will contribute so positively to the local areas – particularly in light of the need for Covid-19 economic recovery. The investment into the project will provide many jobs as well as provide much-needed industrial space in the region.”

 

The project has involved working closely with both Kirklees Council, and the Leeds City Region (LEP) in their role overseeing key strategic enterprise zones. Joint agents on the project are Avison Young and Dove Haigh Philips.

We have had plans approved for our major employment hub in Lancashire, set to create more than 1,000 jobs.

The first phase of the development at Farington Park, situated in Leyland with direct links to M6, M65 and M61, will be a single unit of 544,000 sq ft.

It is expected to generate 600 jobs during construction and more than 1,000 jobs for the area once operational, signalling major new investment.

A range of environmental initiatives are also being progressed as a part of the scheme. These include an eight-acre recreational area, the naturalisation of a previously culverted river, planting of more than 500 trees and ecological improvements designed to assist in flood alleviation plans for the wider region.

The scheme includes extensive landscaping and community improvement initiatives, including the implementation of a new cycleway forming part of the Leyland Loop. This will be upgraded to form a link between the nearby wider employment sites, as well as the residential communities across the River Lostock.

Steve Widdowson, head of Caddick Developments in the North West, said: “The scale of new jobs in the area created by the scheme – both during construction and operation – will be a huge benefit to the local economy, whilst addressing the acute requirement for industrial and logistics space in the North West.

“This BREEAM Excellent project will return brownfield land to use, providing jobs and environmental improvements for the area. We look forward to continuing our work with local partners to bring the scheme forward.”

The agents for the project are Rob Taylor at Cushman & Wakefield, and Sam Royle at Knight Frank.

Construction starts on the next phase of SOYO Leeds Build to Rent scheme for Hestia, creating 331 new apartments. 

The building of the Hestia apartments, on behalf of Federated Hermes, is the second phase of Caddick Group’s SOYO neighbourhood scheme, which is scheduled for completion in late 2023.

Designed by Leeds-based DLG Architects, the scheme comprises two adjoining blocks in the new city centre district, with planning permission held for 331 apartments – a mixture of studio, one, two and three bedrooms – as well as outdoor courtyards, and 12,000 sq. ft retail, restaurant and ground floor amenity space.

The blocks will be delivered alongside a new public realm including green spaces and a pedestrian square, with sustainability credentials that put the scheme on the Net Zero Carbon pathway – by using techniques to reduce embodied and operational carbon.

Caddick Group are using the opportunity to highlight the positive local impact of the development so far, which includes nearly 500 local Leeds residents being brought into employment on the first phase of SOYO – New York Square. The work on phase 2 will support a further 2,000 construction jobs, with the creation of 10 new apprenticeships.

 

Our Managing Director, Myles Hartley said: “Projects like SOYO represent a huge investment in Leeds. This development will deliver new homes, commercial spaces and new landscaped areas – all things that will improve the physical built environment. As part the team developing Caddick’s wider ESG approach, I’m also hugely proud that we’ve been able to deliver the ambitious social value targets we set for ourselves, in spite of the challenges of the pandemic.”

Chris Wilson, commercial development director at Caddick Construction, said: “One of the main challenges within the construction industry is the skilled labour shortage and this is why we are keen to engage with education providers like Leeds College of Building and Wakefield College to work with the next generation to showcase the industry and roles within it.

Matt Chillingworth, senior investment manager at Federated Hermes, added: “Hestia’s priority is to deliver high quality, sustainable and relevant housing across the UK and in doing so are helping to deliver a meaningful impact on local communities. SOYO Leeds is an ideal location to achieve these goals. Our priority is to effectively integrate into and enhance existing communities creating positive environmental and social outcomes.”