February 6, 2025
Hathaway Developments has secured its third logistics and life science scheme in 18 months further expanding its development pipeline to almost 200,000 sq ft with a GDV of approximately £100m.
The latest acquisition, in partnership with a highly respected private investment company as part of their opportunity fund, comprises a prime 2.5-acre development site in Manor Royal, Crawley to construct a £28m GDV logistics scheme.
Hathaway Developments will shortly submit detailed planning for site demolition and redevelopment comprising a best in class 110,000 sq ft multi let logistics terrace and a bespoke self-storage unit, which has been pre-let.
The gateway site is located within the heart of the established Manor Royal business district and the scheme will be designed to a Grade A specification to include Cat A offices at first floor, 8.5m eaves and 50KN floor loading whilst incorporating the highest levels of sustainability reflecting Hathaway Developments’ ESG credentials. Completion is expected in 2026.
The latest project complements Hathaway’s portfolio having recently obtained planning for a 12-unit logistics scheme in Wokingham and acquiring a vacant office building in Bracknell. The existing building will be repurposed to provide a life science use class and become the headquarters of a leading German life science corporation to include bespoke laboratories, cold storage and CAT A offices.
George Hardcastle, founder of Hathaway Developments, commented: “We’re delighted to be working with our new funding partners and delivering a best-in-class sustainable development within an unquestionable logistics location. Limited supply of new build multi-let units, headline rents recently achieved and de –risking the self-storage component make this a very exciting opportunity.
“Looking forward the business plan is to capitalise on further opportunities. We have both the resources and funding partnerships in place to acquire 2–25-acre sites across the UK to build speculative industrial and logistics led schemes.
‘However, we remain open minded and adaptable to respond to ever changing market conditions and occupational requirements as we successfully demonstrated in Bracknell.’
Haslams advised Hathaway on the Crawley purchase.
