Developer Chancerygate has been granted planning permission to build 110,000 sq ft of Grade A urban logistics and industrial space in Chadderton, near Oldham.
Called Broadway Central, the speculative development will comprise eight units across two terraces ranging from 7,600 sq ft to 18,200 sq ft and one stand-alone unit of 27,000 sq ft. Units are available freehold or leasehold and the scheme will have a gross development value of around £20m.
Chancerygate acquired the 6.58-acre site last July for £3.8m from FO Developments which is a consortium comprising Oldham Council, Grasscroft Property and Seddon Developments. Construction is scheduled to commence in May with practical completion expected early next year.
The consortium delivered the wider Broadway Green development which is a 121-acre mixed-use scheme on former agricultural land. Once complete, it will provide up to 700,000 sq ft of employment space. In addition, 500 new homes and 25 acres of public open space in a linear park.
Chancerygate development manager, Andy Farrer, who is based in the company’s Warrington office, said: “We’re very pleased to have obtained planning to deliver Broadway Central just nine months after our acquisition. This is a testament to the hard work of our team and the positive and pragmatic attitude of Oldham Council.
“Broadway Central is in an excellent location where there is very little supply of new, high-specification industrial units. Therefore, this development is best placed to help satisfy the strong demand for Grade A urban logistics and industrial space that there is for businesses operating both locally and throughout the North West 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 has offices in London, Warrington, Birmingham, Bristol and Milton Keynes. It currently has more than 3.5m sq ft of industrial space under construction or ready for development across 32 sites ranging from Bournemouth to Edinburgh.
Agents for Broadway Green are Davies Harrison and Avison Young.
