A JOINT venture between industrial developer and asset manager Chancerygate and Hines, the international real estate firm, has secured planning to speculatively build 119,675 sq ft of industrial and warehousing space at Warrington.
The scheme will be situated on the final five-acre plot of Warrington’s Gemini 8 business park and will comprise 18 units ranging from 3,900 sq ft to 16,500 sq ft.
Gemini 8 is strategically located adjacent to junction 8 of the M62 motorway and approximately four miles from the M6. Occupiers surrounding the business park include Athelis Club and Spa, Ikea, Starbucks, Travelodge and Marks and Spencer.
Chancerygate development manager Chris Brown, said: “There is a real shortage of modern high quality industrial and warehousing space at the smaller end of the market in Warrington, so we’re delighted to have secured planning to build our 18-unit development at Gemini 8.
“It will be the first multi-unit scheme in the area for more than a decade and is in an unrivalled location in one of the North West’s prime commercial markets.
“Not only is Gemini 8 situated just off a motorway junction, it also offers fantastic amenities and retail on its doorstep. We are confident occupiers will be keen to locate here over other less well positioned multi-unit estates and are already in discussions with a wide range of businesses based both in and around Warrington and across the North West.”
Greg Cooper, Hines UK director of industrial and logistics, added: “This is an important next step in continuing to grow our portfolio with Chancerygate and deliver high-quality industrial schemes across the UK. The partnership to date has been highly successful at identifying modern industrial and logistics space in strategic locations across the UK and we welcome the momentum behind these quick transactions that allow us to deliver schemes at pace.”
Construction work is anticipated to start in the first quarter of next year.