Panattoni acquires 16-acre site in Greater Manchester’s ‘Atom Valley’ for innovation zone’s first speculative logistics development

Panattoni, the world’s largest privately owned developer of industrial real estate, has acquired a 16-acre site at HPARK within Atom Valley, a designated mayoral development zone in Greater Manchester, to build the area’s first large scale speculative industrial and logistics development.

Russell LDP is a leading land promoter, master developer and industrial developer, focusing on delivering large-scale residential and industrial schemes. Russell LDP are the developer for HPARK.

The site sits within Northern Gateway, the largest single development site in Atom Valley,  an approx. 1,000 acre employment and innovation location stretching across Rochdale and Bury that has been identified as a priority destination for advanced manufacturing, logistics and industrial investment. Atom Valley as a whole encompasses 17 million sq ft of flexible employment space and has the potential to support 20,000 new jobs and 7,000 new homes. Atom Valley is a mayoral development zone, a designation that helps streamline the planning process, similar to the London Legacy Development Corporation that transformed London’s Olympic Park.

HPARK will deliver 2.1 million sq ft of high-specification, flexible space, including larger combined units. Targeting BREEAM ‘Excellent’ and an EPC A rating, it also offers strong sustainability credentials and a high power capacity alongside excellent connectivity, with direct access to the M62 and M66 linking to Greater Manchester and the wider motorway network.

The site will be plateaued in preparation for development, which Panattoni intends to bring forward as rapidly as possible.  A revised planning application to increase the approved building area will be submitted in the coming months. Panattoni will work  with Russell LDP to amend the existing reserved matters consent and progress infrastructure delivery across the site.

The timing of the acquisition coincides with the Greater Manchester Combined Authority’s (GMCA) recent announcement of £52.1 million of public investment in local highway improvements at Northern Gateway, including a Western Access route from Junction 19 of the M62. The infrastructure investment, backed by Mayor Andy Burnham, is expected to transform the strategic accessibility of the zone and unlock 1,200,000 sqm of employment space, 20,000 operational jobs and 7,000 new homes.

Over the past decade, Greater Manchester has become the UK’s fastest growing city region, with annual growth and productivity outpacing the national average. Within it, Northern Gateway represents the most significant industrial and logistics land opportunity in the region. Panattoni’s acquisition underlines the company’s conviction in the long-term fundamentals of the Greater Manchester market and its appetite to invest speculatively in locations where infrastructure, planning support and occupier demand are aligned.

Daniel Burn, Head of Development: North West & Yorkshire at Panattoni, said:

“Northern Gateway at Atom Valley is one of the most significant advanced manufacturing, industrial and logistics opportunities in the North of England. With the opening of the new link road to the M62 and the recent announcement of over £52.1 million of public investment to bring forward the new Western Access to the M66, the conditions are in place to move quickly and get building. We are delighted to be working with Russell LDP to bring forward the first development on Northern Gateway and look forward to demonstrating what is possible at this site.”

Councillor Daniel Meredith, Portfolio Holder for Regeneration and Housing at Rochdale Borough Council, said:

“Northern Gateway, as a key part of Atom Valley, is a clear signal of momentum in delivering the kind of growth Greater Manchester needs – growth that is inclusive, sustainable and rooted in opportunity. Supported by the new Western Access to the M66 and backed by £52.1 million of public investment, we are laying the foundations for long-term success.

This is about creating real opportunities for people in Rochdale, Bury and Oldham, supporting high-quality jobs, driving investment and opening up new employment pathways that benefit local communities. By bringing forward developments like this, we are ensuring that the success of Atom Valley is felt by residents and businesses, now and into the future.”

Andrew Russell, Joint Managing Director at Russell LDP, said:

“The first transaction at HPARK marks a significant milestone for the scheme. Securing the first plot sale is a strong endorsement of the site’s location, connectivity and scale.

“The deal with Panattoni underlines continued demand for high-quality industrial and logistics space across the North West, and sets a positive tone for future activity at HPARK. We are already seeing strong interest in the remaining plots and look forward to bringing forward the next phase of development.”

DWF acted as legal adviser to Panattoni. Freeths acted as legal adviser to Russell LDP.