Industrial developer Chancerygate’s Warrington office has announced construction work has started on four units totalling 112,500 sq ft at its new Mersey Reach logistics park in Aintree.
The four units comprise the development’s first phase, with the second phase totalling 90,000 sq ft. According to Chancerygate, once complete Mersey Reach has the potential to create up to 350 jobs.
Contractor Caddick Construction, which also has an office in Warrington, is now on site having won a £7.85m contract to build the scheme’s first phase following a competitive tender. This is Caddick’s second appointment by Chancerygate after it was awarded a £10.7m contract in September to build phase one of the 132,000 sq ft Novus business park in Knutsford.
Situated on a 13.5-acre site on Dunnings Bridge Road, Mersey Reach is strategically located on a prominent gateway route into the new Liverpool SuperPort, with fast access to the M57 and M58.
One of the four units in phase one has already been pre-let to builders merchants Selco Builders Warehouse. The remaining units range in size from 12,035 sq ft to 42,518 sq ft. Work is scheduled for completion by August 2020.
Chancerygate has also sold a two-acre plot on the site to Blackburn-based independent fuel station and convenience retailer Euro Garages. The land will be developed into a fuel station, drive-thru Starbucks and SPAR retail store.
The development is supported by a loan from Liverpool City Region Combined Authority and The Chrysalis Fund, a £35m fund which finances property and regeneration projects throughout the Liverpool City Region.
Commenting on work starting on site, Chancerygate development director and head of the company’s Warrington office, Mike Walker, said: “Mersey Reach is the first development of its kind in North Liverpool for many years, so it’s great that construction is underway and we can begin to meet latent demand for high-specification urban logistics units in the area.
“This is a prime example of what Chancerygate does best, providing attractive property in strategic locations.”
Caddick Construction’s North West office was established in Warrington in 2015, as part of a strategic growth plan to expand into the regional market. Within its first three years, the office secured 14 contracts totalling £56m.
Managing director of Caddick Construction’s North West division, Ian Threadgold, added: “This is a very exciting project for Caddick Construction to be involved in. It’s always great for the team to be working on a scheme that’s going to have such a positive impact on the local economy by attracting new businesses and creating job opportunities.
“We are delighted that Chancerygate chose Caddick as its preferred developer for Mersey Reach and we look forward to being part of this important project.”
Chancerygate is the UK’s largest multi-unit industrial property development and asset management company and the only one operating nationwide. In addition to its Warrington location, the company has offices in London, Birmingham and Milton Keynes.
This financial year, Chancerygate aims to triple its completed developments compared with the previous year, targeting one million sq ft across 11 schemes.
CBRE and B8 Real Estate are joint agents for Mersey Reach.
