Deal completes on four high spec units at Knutsford industrial estate
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Northwood Urban Logistics has purchased 78,000 sq ft of new industrial space, for an undisclosed sum, from Chancerygate at Novus, Parkgate Industrial Estate in Knutsford.
Novus offers four new detached warehouse/industrial units between 14,019 and 24,897 sq ft, with each unit benefitting from its own fenced and gated yard.
Unit 2 has first floor office accommodation with comfort cooling. Units 8, 9 and10 have been completed to a shell specification, enabling occupiers to undertake their own bespoke fit outs to suit their specific operational needs.
Future tenants will be able to equip the space to function as manufacturing, distribution or storage facilities.
Novus benefits from impressive sustainability credentials as Northwood Urban Logistics has incorporated a number of green initiatives into the space that will reduce both carbon emissions and occupational costs.
The scheme boasts electric vehicle charging points, 15% roof lights for increased natural lighting, high performance insulation and secure cycle parking.
Parkgate Industrial Estate is located 1.5 miles from Knutsford and is within close proximity to the M6 and M56 motorways. Existing occupiers within the park include Sytner Group and Oliver Valves.
JLL and Williams Sillitoe have been appointed as leasing agents at Novus.
The latest research from JLL’s Property Predictions found that the strong take-up levels of industrial stock in 2020 has meant that the development pipeline and availability of existing buildings across the North West is at an all-time low.
The research also indicated that demand for high specification industrial space in the region remains unabated and that during the pandemic occupiers have continued to seek new space, particularly in the on-demand and e-commerce sectors.
Iain Taylor, director at Northwood Urban Logistics, said: “We are very excited to have purchased the four vacant units at Novus at a time when there is a chronic lack of supply in the area. Novus is able to cater to a wide range of occupiers who will be able to adapt the units for a variety of uses.”
Richard Johnson, director UK industrial and logistics at JLL, said: “Novus is the first speculative industrial development in Knutsford for over 25 years, with Parkgate Industrial Estate comprising older second hand accommodation.
“Novus, therefore, offers much needed new build space, which is carbon efficient and built to a high specification to meet the demand for Grade A space in the area.”
JLL has also completed the latest letting at Aberdeen Standard Investments’ Gemini Business Park in Warrington.
Activate Accident Repair Group has agreed to take Unit 1 Gemini Park, a newly refurbished unit that extends to 24,760 sq ft.
It has taken the space on a 10-year lease at a rent equating to £7 per sq ft and will operate its latest accident repair centre from the site.
JLL identified Activate Accident Repair Group as a potential occupier part way through the refurbishment programme and negotiated lease terms, subject to a planning Change of Use, which was granted in February.
Richard Johnson, who advised Aberdeen Standard Investments, said: “We were confident of letting the Grade A second hand building soon after practical completion of the refurbishment works, due to the high specification of the property, its prominent corner position on Europa Boulevard at Gemini Business Park, and its prime location close to junction eight of the M62 motorway.
“In particular, the quality of the refurbishment was exceptional and was project managed by our Manchester Building Consultancy team. As a result, we achieved the quoting rent of £7 per sq ft and a straight 10-year lease, which is indicative of the high levels of demand for good quality second hand space in Warrington.”
JLL and B8RE acted on behalf of Aberdeen Standard Investments. Activate Accident Repair Group was represented by LSH.