Developer Chancerygate has started construction on a new Grade A 110,000 sq ft urban logistics and industrial development in Chadderton, near Oldham.
Called Broadway Central, the development will comprise an eight-unit scheme, seven 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.
All units are available on a leasehold basis, and once complete the scheme will have a gross development value of around £25m.
Broadway Central is being built by Triton Construction, which won a competitive tender for the £8.5m construction contract. Practical completion on the scheme is expected in summer 2023.
Chancerygate acquired the 6.58-acre site last July from FO Developments which is a consortium comprising Oldham Council, Grasscroft Property and Seddon Developments.
The consortium delivered the wider Broadway Green development which is a 121-acre mixed-use scheme on former agricultural land in the Chadderton and Foxdenton Boroughs of Oldham. Broadway Green has a new spine road connecting the A663 Broadway and B6189 Foxdenton Lane.
Ultimately it will have up to 700,000 sq ft of employment space. In addition, there will be 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: “Broadway Central will deliver a high specification, sustainable urban logistics and industrial development to help satisfy the strong demand for this type of accommodation in the North West.
“The scheme is in a prominent location within the established Broadway Green development, and since receiving planning consent, we have experienced a great deal of interest from prospective occupiers. We look forward to delivering a development that will serve the needs of businesses in the region.”
Founded in 1995, Chancerygate is the UK’s largest multi-unit urban logistics property developer and asset manager and the only one operating nationwide.
In addition to Warrington, the company has offices in London, 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.