Leading industrial property developer, Network Space has appointed Caddick Construction to deliver a 23,069 sq ft speculative industrial building on the northern fringe of Liverpool city centre.
Construction work at the Central 23 development, which is being brought forward on a 1.75-acre brownfield site on Carruthers Street off Vauxhall Road in the city, has started with the unit designed to appeal to a range of industrial or urban logistics operators.
Along with its prominent and accessible location, the development features an eight metre eaves height, substantial office provision, generous on-site parking, significant power capacity and fibre broad band together with a 0.3 acre service area within a self-contained and secure yard.
Catherine Chilvers, Senior Development Manager at Network Space Developments said: “Provision of industrial warehouse space of this size and quality this close to the city centre is a rarity and it is particularly satisfying to be advancing Central 23 on a brownfield site that has sat vacant for many years.
“Its position on the fringe of the city centre means the development is perfectly placed to appeal to a wide range of businesses who require access into the city and the wider conurbation.”
The project sits within the city’s Pumpfields regeneration area which has ready access to the key arterial route of Leeds Street and adjacent to the city’s new creative district of Ten Streets, earmarked for 1 million sq ft of development in the coming years supporting 2,500 new jobs. The scheme has been supported with a grant from the Regional Growth Fund.
Construction work is expected to be complete in the spring of 2020 and agents appointed to market the opportunity on a leasehold basis are CBRE and DTRE.
Upon completion of the development, its ownership will be transferred to InfraRed Capital Partners which acquired the site as part of a £93 million deal with Network Space announced in 2018. The deal realised the sale of a one million sq ft property portfolio which included a number of development sites.
Network Space’s property management arm – NSM – retains management responsibilities across the portfolio.
Network Space has been providing industrial workspace and warehousing for over 35 years and intends to deliver 2.5 million sq ft of industrial property over the next five years.