CRT Property Investments Ltd, the wholly owned subsidiary of the Coalfields Regeneration Trust, and its asset manager, Blue Marble Asset Management (Blue Marble), have fully let a speculative trade park development in Wigan with agreements in place for the final two units.
UK Storage Company (SW) Ltd has taken a new 25-year lease on 8,000 sq ft of storage space at Units Three and Four, Wigan Trade Park, Manchester Road, Wigan. B8 Real Estate and Littler and Associates advised CRT Property Investments Ltd and Blue Marble on the deal.
UK Storage Company (SW) Ltd operates 17 self-storage units across the South West and South of England. Wigan Trade Park is its first location in the North West.
Developed speculatively by CRT Property Investments Ltd, Wigan Trade Park consists of five high quality commercial units ranging in size from 3,000 sq ft to 4,000 sq ft, with a total floor space of 17,500 sq ft, designed to encourage enterprise and economic improvement throughout the local community.
Other occupiers at the trade park include the North West’s largest independent decorators’ merchant Bromborough Paints, Screwfix and Greenworks Coffee.
Property Investment and Development Director for the Coalfields Regeneration Trust, Shaun O’Brien, says: “We have taken what was a derelict site, developed it and fully let it, creating a space that benefits business and the wider community, providing new opportunities and jobs.
“Wigan Trade Park is a great example of what we can do when we work collaboratively and redirect funding and resource into the coalfield communities. The simple fact is that these areas would not be viable for most developers, but we are able to provide business space that is appealing, affordable and in turn attracts inward investment to these areas.”
Amy Haywood, Senior Property and Asset Manager at Blue Marble, says: “It is good to see new businesses moving into Wigan, which bring investment and jobs into the town.”
John Lamb, Commercial Manager of UK Storage Company says: “B8 Real Estate were excellent to deal with and were always available so that we could get the deal across the line very quickly. We’re excited to be coming to Wigan, a town that we see as being on the up and we can’t wait to welcome customers to our self-storage facility.”
The Coalfields Regeneration Trust has shared plans for a £40m Coalfield Investment Proposition which would see government provide £30m and the organisation contribute £10m of its own resources. The fund would be used to develop new industrial space to support SME growth in former mining areas and on completion bring an estimated 1,000 jobs to the coalfields over the next five years.
As a result of these developments, over a 25-year period, the Coalfields Regeneration Trust would produce £50m in sustainable income which will be used to support social impact projects creating a wellbeing value of over £500m in the communities and a lasting legacy for the next generation.
An annual income stream of £2m would be directed into social impact projects in the communities, typically achieving the following outcomes; 400 people will be helped back into work; 800 people supported into volunteering; 5,000 people assisted with developing new skills and 8,000 people taking part in activities that improve health.