Developer Chancerygate has started construction work on phase two of its Mersey Reach urban logistics development in Aintree to deliver a further 12 new build units totalling 102,485 sq ft.
Units will range from 4,000 sq ft to 30,000 sq ft. Phase two is being built by Triton Construction which won a competitive tender for the £6.2m construction contract.
Situated on Dunnings Bridge Road, Mersey Reach is being developed in response to strong demand for high quality, new build industrial space across the Liverpool City Region and wider North West.
Mersey Reach’s first phase of four units totalled 112,500 sq ft. Units have been let to precision blade manufacturer, Hardy UK; builders’ merchants, Selco Builders Warehouse; and zero calorie tonic start up, Skinny Tonic.
Both Chancerygate and Triton Construction have offices in Warrington and will deliver the project from those locations. Practical completion of phase two is scheduled for January 2022.
Chancerygate sold phase one of Mersey Reach to Northwood Investors at the end of last year and has also pre-sold phase two to the real estate private equity firm. The two deals highlight the continued growing demand from investors for industrial logistics space and for strategic locations created within the Liverpool City Region.
Chancerygate development director and head of the company’s Warrington office, Mike Walker, said: “It is great to get phase two of Mersey Reach underway following the tremendous success of phase one.
“Mersey Reach is an excellent example of us doing what we do best by identifying and speculatively developing in a place where there is pent up demand for our high-quality urban logistics product.
“We look forward successfully delivering the development in partnership with Triton Construction to provide a place that will create a further economic boost for Sefton and the wider Liverpool City region.”
Founded in 1995, Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide. The company currently has up to three million sq ft of industrial space under construction or ready for development across 23 sites ranging from Bournemouth to Edinburgh.
Triton Construction’s North West regional director, Chris Quinn, added: “We are delighted to have won the Mersey Reach construction tender and to be working with Chancerygate for the first time.
“We are looking forward to working with Chancerygate’s professional team on a project which is exciting for both our companies.”
Chancerygate also manages in excess of £255m of assets across more than five million sq ft of commercial space in more than 390 units. In addition to Warrington, Chancerygate has offices in London, Birmingham and Milton Keynes.
