Council provides £23m loan towards transformation of brownfield site
Trafford Council has agreed a £23.5m loan towards the transformation of a brownfield site in Altrincham.
Newton-le-Willows-based property firm Network Space secured planning permission in June this year for the redevelopment of the former Cartwright headquarters on Atlantic Street, as part of a £45m scheme that could support 400 jobs.
Broadheath Networkcentre will include a mixture of high quality refurbished space alongside new builds, creating a modern, multi-let industrial site designed to attract a variety of businesses.
The development will deliver 205,000 sq ft of accommodation across 25 units, with workspace available from 2,100 sq ft to 39,500 sq ft.
Regional sub-contractors will be encouraged to become involved in the scheme, as well as local training and employment opportunities being provided during construction.
A highly sustainable development, the scheme will target BREEAM Very Good and EPC A ratings.
Existing steel and concrete structures on site will be reused and recycled, resulting in a significant reduction in embodied carbon within the development. Individual units are designed to accommodate photovoltaic panels to support renewable energy provision and electric vehicle charging will be provided across the entire scheme.
As well as supporting Network Space Developments to bring forward the scheme, the loan from Trafford’s Investment Programme includes a number of conditions to promote environmental efficiency, on-site renewable power, electrical vehicle charging points, space for SME businesses and the use of local sub-contractors and apprentices.
Cllr Liz Patel, Trafford Council’s executive member for economy and regeneration, said: “The loan fits well with Trafford’s investment strategy and wider council goals, encouraging the creation of high quality employment space in-borough while requiring high environmental standards and social impacts, as well as providing income that can be reinvested in front line services.
“The proposed quality of this scheme and the demand for this type of space from a range of businesses that want to move into or stay in Altrincham gives confidence that it will perform exceptionally well.”
Dan Adamson, group finance director for Network Space, said: “We recognised the importance of this site to the local area when we acquired it just over a year ago. Since then, we have worked collaboratively with Trafford Council. This will be a best-in-class scheme and, together, we will maximise the positive impact of the project, delivering high quality employment space, jobs opportunities, inward investment and economic growth.
“With a prospective occupier already in legals for the largest unit, the strength of the local market is very evident.”
Network Space commenced the demolition in early May and is aiming for practical completion in spring 2023. The loan will be repaid in phases post completion.
Jonathan Williams at Savills and Will Kenyon at B8 have been appointed as letting agents for Broadheath Networkcentre by Network Space. The wider professional team includes Walker Sime, project management and quantity surveying, AEW architects and Spawforths is the planning advisor.