Chancerygate and Northwood Investors’ joint venture (JV) has been granted for 130,340 sq ft of Grade A last-mile urban logistics space to be speculatively built at Trafford Park in Manchester.
Called Bridgewater Point, the scheme will comprise 16 units ranging from 5,000 sq ft to 13,000 sq ft. Units on the 5.6-acre site will be available on a leasehold basis and construction work is scheduled to start in January 2023.
Located on Barton Dock Road, the site benefits from excellent access to Manchester city centre and is one mile from junction 9 of the M60. Neighbouring occupiers include Kellogg’s, Amazon, L’Oréal and Adidas.
Bridgewater Point is Chancerygate and Northwood Investors’ debut development since launching the JV last September. The JV plans to target speculative urban logistics development opportunities in key cities throughout the UK over the next 18 months.
Chancerygate development director and head of its Warrington office, Mike Walker, said: “This is an excellent first development for our JV with Northwood. It will showcase exactly the type of high specification, sustainable urban logistics accommodation we will deliver together.
“Bridgewater Point is going to be the first multi-unit development on Trafford Park for more than 14 years and one which will become an enduring, job creating asset for the area.
“We are very confident that there will be strong demand for the units because of the strong latent demand for modern high quality units in Trafford Park.”
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 more than 3.5m sq ft of industrial space under construction or ready for development across 32 sites ranging from Bournemouth to Edinburgh. In addition to Warrington, Chancerygate has offices in London, Birmingham, Bristol and Milton Keynes.
Northwood Investors is a privately held firm that owns and operates real estate across the US and Europe. The firm currently manages approximately $9bn of investor capital with its Manchester office headed by executive director Richard Pellatt.
Agents for the proposed scheme are JLL and Davies Harrison.