Controversial Cutacre development gets £10 million investment
THE controversial Cutacre development - branded Logistics North - has been given a £10 million investment.
Harworth Estates, carrying out the industrial and retail Cutacre development, has secured £7 million from the North West Evergreen Fund and a further £3 million from Greater Manchester Combined Authority’s Growing Places pot.
Harworth Estates’ £10 million injection is to finance the construction of roads, groundworks, power, drainage and utilities on the 250-acre Logistics North site — better known as Cutacre — close to junction 4 of the M61.
Plans for four million sq ft distribution and manufacturing space were given the go ahead last month and will create thousands of jobs.
Phil Wilson, executive director at Yorkshire-based Harworth Estates, said: “This loan will be instrumental in enabling us to deliver what will be the premier logistics location servicing the North West.”
Cllr Cliff Morris, leader of Bolton Council, added: “We are delighted that Logistics North has been given this development loan, given its status as a key scheme for Bolton and the wider Greater Manchester region.
“It brings investment of £202 million and real economic benefits to the area particularly in terms of increasing employment opportunities for local people.
“We're pleased to be working alongside Harworth Estates in delivering a scheme that will have clear long-term benefits.”
Read more about Cutacre here:
- Yes to controversial £200 million Cutacre plans
- Cutacre plans to create 6,500 jobs
- Crunch time for controversial £200 million Cutacre development
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