The construction of two new warehouses totalling 400,000 sq ft of space is to be funded by M&G Real Estate. 

These will be situated at the four million sq ft Logistics North scheme in Bolton, which is owned by Harworth Estates. 

Harworth will be carrying out all the necessary building work - and it represents an expansion to the largest industrial development under construction in the north-west of England. 

Director of logistics and industrial at M&G Real Estate David Crowley said the north-west has a limited supply of grade A warehouses of this size. 

The new buildings will be 225,031 sq ft and 175,087 sq ft, with ground work for the facilities already begun. 

"[This investment] draws on the longstanding and proven skills, expertise and experience of our specialist team to secure the right acquisitions with clear income potential and strong returns," Mr Crowley commented.