Pre-sold Knowsley industrial development handed over ahead of schedule

The Manchester-based Prime Group has handed over a Knowsley industrial park development ahead of programme.

Acornfield Industrial Park sits off Acornfield Road, within the established Knowsley Industrial Estate.

Construction of the three units began in February 2022, and the development was subsequently forward-sold to US-backed property investor, 4th Industrial, in April last year for an undisclosed price.

The 132,000 sq ft development consists of three units, the largest is 53,269 sq ft, followed by another of 47,453 sq ft and the smallest, which is 31,482 sq ft.

According to Baber Majid, Prime Group managing director, 4i’s purchase of Acornfield demonstrates the continued strength of the North West industrial market. He said: “The willingness to forward purchase speculative developments such as this demonstrates confidence in the future of Knowsley as an investment and employment location.”

B8 Real Estate advised 4i on the purchase while Kuits Solicitors advised The Prime Group on the sale. B8 and CBRE are joint lettings agents for Acornfield Industrial Park.