Capital & Centric secures ERDF funding for Speke scheme

MANCHESTER developer Capital & Centric has signed a £1.4m gap funding agreement with the European Regional Development Fund for a speculative scheme at Estuary Commerce Park in Speke.

Last year consent was granted for 40,000 sq ft of offices and warehousing on a 3.5-acre brownfield site off Speke Boulevard.

The project, which would cater for 100 employees, follows the 80,000 sq ft Estuary Banks nearby and the soon-to-be-completed Speke Business Park, which has 60,000 sq ft on the other side of Speke Boulevard.

Capital & Centric has agreed to acquire the land from the Homes & Communities Agency. Construction is due to start in the next three months and the business is currently looking for contractors.

Co-founder Tim Heatley said: “Signing this agreement is the last big bit of the jigsaw that we needed in order to get cracking with construction. Our innovative approach to funding, design and development means we can continue to develop speculatively, avoid having any bank debt and deliver great looking buildings.”

Expressions of interest in the contract must be submitted by September 5.