Industrial real estate developer Redsun Projects has received a £4.9m investment to support a major new development in Hawarden, Wales, set to create 130 local jobs in the area.
National debt funder Frontier Development Capital (FDC) provided the investment from the FDC Debt Fund as part of the wider deal to build four new units.
Portal Construction NW Ltd is contracted to develop the commercial property units on the five acre brownfield site at Hawarden Industrial Estate, near Chester, adjacent to the Airbus UK facility.
The four completed commercial spaces aim to be environmentally-friendly, with an EPC rating of A and featuring LED lighting and energy efficient cladding throughout helping towards a BREEAM Very Good rating.
Nick Wightman, Director of Redsun Projects, said:
“This project is the result of continued support and cooperation with Frontier Development Capital and the Welsh Government to create much needed energy efficient industrial space in Wales.
“Demand is proving to be extremely high and we expect these units to be under offer before construction is completed later this year. We hope to bring forward a second phase of development at this site in 2023.”
Ed Bradburn, investment director at Frontier Development Capital, said:
“Frontier Development Capital aims to provide the funds and support to companies looking to grow, and Redsun has a strong track record, having previously developed a 70,000 sq ft industrial unit in Telford with FDC support.
“This deal for Redsun is the perfect example of FDC’s flexible financial solutions to support driven companies that want to expand and flourish. This new deal is set to develop the local area, provide job opportunities and use greener development and construction practices.”
Cushman & Wakefield and Legat Owen are appointed as letting agents on the scheme.
The Design Team is made up of C4 Projects, Langton Development Services, SGi, Crookes Walker Consulting and WaterCo.