Property round-up: Chancerygate; One Express; Holiday Inn Express; Regional Property Solutions; Blueoak Estates

A CGI of phase two at Novus

Work has started on a combined 126,000 sq ft Grade A industrial space in Knutsford and Congleton.

Industrial developer Chancerygate, which has an office in Warrington, said it marks a strong start to the year for the team, which submitted plans in January to speculatively build 72,000 sq ft of industrial and warehousing space in Bredbury, called Cromwell Park.

Subject to planning it will comprise 10 leasehold units ranging from 1,930 sq ft to 22,000 sq ft.

In Knutsford, Chancerygate has started work on phase two of its £33m, 207,000 sq ft Novus business park which is located within Parkgate Industrial Estate.

The second phase will deliver 73,000 sq ft of industrial space and create up to 100 jobs. It comprises nine units ranging from approximately 2,000 sq ft to 50,000 sq ft which are available on a freehold and leasehold basis.

A 50,000 sq ft bespoke unit on phase two has already been forward sold to furniture company VIDA Living. The company will move its UK operation from Cheadle and use the unit for storage and distribution purposes. Phase two is scheduled for practical completion in the fourth quarter of this year.

Work has also started at Chancerygate’s development within Congleton Business Park. Called Norse Trade Park, the £7m, 53,000 sq ft scheme will comprise 10 leasehold units.

These range from approximately 2,900 sq ft to 9,550 sq ft with one already pre-let to trade kitchen supplier Howdens. Practical completion of the development is expected by this October.

Chancerygate development director and head of the Warrington office, Mike Walker, said: “We had an exceptionally strong 12 months last year and have continued that momentum into 2022. Our forward sale and pre-let at Novus and Norse Trade Park, respectively, are indicative of the high demand for Grade A multi-let industrial and warehousing accommodation in the North West.”

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One Express Ancoats

Following PJD Group’s completion of its refurbishment of the Grade II-listed One Express on George Leigh Street in Ancoats, in September 2021, 21,580 sq ft of a total 25,700sq ft net lettable space is either let or under offer.

Tenants who have completed their leases include Talent International (tech and digital sector recruitment), Social (communications consultants), LinqHC (healthcare recruitment consultants), BGN (branding and digital agency), Nexus Planning (planning and regeneration consultants), Studio North (brand consultancy) and Rosso & Azzuro (online clothing retailer).

They have all taken units in the fully fitted ‘plug and play’ format, which have been designed by PJD Group to include high quality kitchens and office furniture.

Lease terms have varied between two and five years, with rentals between £25 and £27.50 per sq ft. Mark Davies, owner of PJD Group, said: “Our vision from the start was to produce Grade A office space in Ancoats, which was primarily fully fitted, as the market has clearly moved to this model with the landlord absorbing the capital cost of fitting out the office space.

“This has proved attractive to the market, as can be seen by the speed with which the first tenants have committed to the building, and we expect to announce a number of further lettings early in 2022.”

The letting agents were OBI and Daniel Harris and Co.

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New facilities at the hotel

The Holiday Inn Express at Chester Racecourse has undergone a £200,000 refurbishment of the bar and lounge areas.

The features of the renovation will provide guests with a much improved leisure and dining experience with new modern breakfast area, fully refurbished bar and seating, outside seating area with planters, pods for evening drink and a new air conditioning and heating system.

The refurbishment comes off the back of a record-breaking summer for the hotel that saw occupancy rates at 99.75% because of the rise in the staycation market.

General manager, Lucy Edwards, said: “After the disappointment of having to close for the beginning part of last year because of the pandemic, we were thrilled to see a record-breaking summer with occupancy rates well above average at 99.75%.”

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Fairbank House

Business and tax advisers MBL has taken space in Fairbank House, Ashley Road, Altrincham.

The firm has taken an assignment of a five-year lease from 2020 for a second floor suite providing 1,100 sq ft, in this 9,000 sq ft office building, at a passing rent of £21,000 per annum.

Mike Bulcock, MBL managing director, said: “We have out grown our offices in Broadheath and this move to newly refurbished offices within the town centre has met with universal approval from the team and we look forward to building on our success in the future as we continue to expand our client base.”

Daniel Lee, for Regional Property Solutions, who acted for the landlord Hyrst Garth Estate, said: “This office suite was previously occupied by Forever Legal which has moved to larger offices in nearby Lindley Court and we negotiated the assignment of its lease to MBL.”

Tenant Advisory Group acted for MBL.

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Royal House

Chester developer Blueoak Estates has acquired Royal House, on the city’s Upper Northgate Street, to transform from commercial buildings into luxury homes.

Work is now under way to develop 16 one-bed apartments aimed at first time buyers.

The developer said they will be large and spacious, featuring huge, striking windows to flood each unit with light, situated on what is considered to be one of the city’s most desirable locations.

The site is close to the fashionable Northgate Quarter, near the City Walls, and the £72m retail and leisure Northgate development with many independent retail and restaurants outlets.

Royal House is the 10th Chester city development Blueoak has led in the past six years.

Managing director, Iain MacLean, said: “It’s incredibly important to us that the projects we build leave a lasting and sustainable legacy that support and enhance the local environment and community. Once again we have acquired an unwanted building that required major repurposing and reconfiguring to create homes suitable for modern needs and expectations.

“Furthermore, we strongly believe that utilising existing building such as Royal House helps breathe new life into city centres struggling under the threat of challenging retail conditions and weighted against online shopping experiences.”

The project is expected to launch in summer this year.

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