A JOBS windfall is on the cards after a logistics development on the outskirts of Bolton was given a £4.75m shot in the arm.

Land formerly owned by British Coal in Little Hulton has been identified as a ‘prime site’ for the area’s latest warehousing and deliveries project.

And the project, dubbed ‘Ravens Locks’ has now been granted investment funding by the Greater Manchester Combined Authority’s (GMCA) Local Growth Deal.

The old Ashton’s Field Colliery site, off Ravenscraig Road, is only a short distance away from the sprawling Logistics North complex.

Councillors have been told that the business case, put together by Salford-based IRAF UK Vantage, has been appraised by the GMCA’s core investment team.

In a joint report, Cllr David Molyneux, Wigan Council leader, and portfolio lead for investment and resources and Eamonn Boylan, the portfolio lead chief executive for investment, said the funding could be released subject to due diligence being carried out.

The pair noted that one of the backers of the Ravens Locks development, which is envisaging more than 200 car parking spaces, is Evergreen, which was behind Logistics North.

Their report added: “The scheme will provide six units in total ranging from 11,000 sq ft to 69,000 sq ft

“IRAF UK Vantage 3 Ltd is an SPV wholly owned by InfraRed Capital Partners Limited, a global investment manager focused on both infrastructure and real estate.

“The developer that will be responsible for delivery of the project is Network Space Developments Ltd. Network Space is a well-established regional property company.

“Senior debt funding is expected to be split equally between Growing Places and Evergreen (£4.75m each, excluding finance).

According to Network Space, the overall package is set to be completed by next February. Five units will be spread across the land - three larger stand-alone office and warehouse buildings, and three smaller adjoining units.

Promotional material for the development reads: “Each will comprise high quality warehouse space, extensive secure yards and dedicated car parking, along with office accommodation and amenities."