St. Modwen, the UK’s leading regeneration specialist, has agreed a pre-sale on one of the speculative units it is building in the latest phase of development at Stonebridge Business Park in Liverpool.
Almond Catering Supplies, the North West’s leading wholesale fruit and vegetable supplier, has agreed a deal to purchase the 5,117 sq ft unit in a shell condition on completion for £450,000.
The unit is one of four units currently under development in a second speculative phase at Stonebridge Business Park, all four of which will deliver a total of 65,482 sq ft of industrial accommodation. The construction of this phase is due to complete in the coming weeks.
David Nuttall, Development Manager at St. Modwen, said: “We are looking forward to welcoming Almonds Catering Supplies to Stonebridge Business Park. They are relocating to an extremely prominent unit fronting the A580 and are another addition to this developing business location.
“Our confidence in this location prompted our decision to speculatively develop this phase, so to set a new benchmark for a unit sale of this size is pleasing. Now the units are nearing completion, we are seeing a good level of interest in the remaining three units.”
Jonathan Lowe, of GVA’s offices and industrial team who advised St. Modwen, said: “Almonds Catering Supplies decision to relocate to Stonebridge Business Park justifies St. Modwen’s confidence to speculatively develop industrial stock in Liverpool during this period of under supply.
“The price achieved demonstrates an upward movement in values and we are now seeing growth across both sale and leasehold transactions. The prominence of the location, on the A580 East Lancs Road coupled with the quality of product, makes Stonebridge Business Park an attractive proposition for occupiers in the market who are considering relocation.”
GVA, Knight Frank and Pinsent Masons advised St. Modwen on the transaction.
The remaining three high quality units range in size from 10,415 sq ft to 32,452 sq ft.