Industrial developer Chancerygate has been granted planning permission to build phase two of its £33m, 207,000 sq ft Novus business park in Knutsford, with 50,000 sq ft forward sold to furniture company VIDA Living.
Located within Parkgate Industrial Estate, phase two of the development will deliver 73,000 sq ft of industrial space with a gross development value of £11m and create up to 100 jobs.
The scheme will comprise nine units ranging from approximately 2,000 sq ft to 50,000 sq ft, available on a freehold and leasehold basis.
VIDA Living has forward purchased a 50,000 sq ft bespoke unit as part of the business’ expansion. As part of these plans, the business will move its UK operation to Knutsford from Cheadle and use the unit at Novus for storage and distribution purposes.
VIDA Living is headquartered in Dundalk, Ireland, and provides design-led, high-quality furniture tailored to businesses and the private rented residential sector.
Construction on phase two of Novus is set to begin in January 2022, with practical completion expected in Q4. It follows the successful completion of phase one, which delivered 134,000 sq ft of industrial space sold to Northwood Urban Logistics, Sytner Group, Oliver Valves and Mesoestetics.
Chancerygate development manager, Chris Brown, who is based in its Warrington office, said: “We’re very pleased to conclude the deal with VIDA Living which has been a long time in the making.
“This deal is another example of Chancerygate’s ability to cater for occupiers who require bespoke industrial and warehousing space. There’s significant interest in the speculative development of phase two of Novus and we look forward to seeing this development progress.”
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. In addition to Warrington, Chancerygate has offices in London, Birmingham, Bristol and Milton Keynes.
VIDA Living, chief executive officer, Alan Wogan, said: “We are thrilled to secure our new UK premises at Novus Knutsford.
“This investment supports our transformation plans and enables us to move forward with our strategic vision for Vida. We strongly believe that this location provides our organisation with the platform for growth within our UK markets, whilst also providing our people with a world class environment and certainty in these challenging times.
“The investment also demonstrates our confidence in the UK market and importantly in our UK team. With state-of-the-art facilities and technology, it will enable us to continually exceed our customers’ expectations. It is a true testament to the ambition and vision of our company.”
Property consultants Gerald Eve and Williams Sillitoe acted as agents for Chancerygate.