Freeths advises on sale of landmark Atom Valley site

Leading law firm Freeths has advised Russell LDP on the sale of a 16-acre plot at its HPARK site in Heywood to Panattoni, marking the first transaction within the Northern Gateway site in Greater Manchester’s Atom Valley Mayoral Development Zone.

Russell LDP is a UK-based development and investment company specialising in industrial, logistics and commercial real estate. Through its HPARK scheme, the business is delivering a major employment-led development designed to support high-quality industrial and logistics occupiers, with a focus on sustainability and connectivity.

Panattoni is one of Europe’s largest logistics real estate developers, delivering high-specification industrial and distribution facilities across key strategic locations. The company is a major player in the UK logistics market, with a strong track record of delivering large-scale, sustainable developments.

The deal represents a significant milestone for HPARK, which is set to deliver 2.1 million sq ft of high-specification, sustainable space targeting BREEAM Excellent and EPC A ratings. The transaction follows a £52.1 million commitment from the Greater Manchester Combined Authority towards infrastructure improvements, further enhancing connectivity to the site via the M62 and M66.

Leading the Freeths team was Real Estate Managing Associate Nick Wallace, supported by Real Estate Partner Stephen Lewis.

Commenting on the deal, Nick Wallace said: “This transaction marks an important first step in bringing forward development at HPARK and underlines the strength of demand for strategically located, high-quality industrial and logistics space in the North West. We are pleased to have supported Russell LDP on securing this landmark deal, and it reflects the strength and depth of Freeths’ real estate expertise, as well as our continued focus on delivering commercially focused support on complex, high-profile development projects across the UK.”