Work completes on two North West logistics sites with joint value of £41m
Work has completed on two North West urban logistics developments with a joint gross development value of £41m.
Developer Chancerygate has achieved practical completion on the schemes which provide a combined total of 260,000 sq ft of Grade A accommodation for the region.
Novus, which is located in Knutsford, and Norse Trade Park in Congleton.
Located within Parkgate Industrial Park, Novus is a £33m development with 207,000 sq ft of urban logistics space. The scheme was sold to real estate private equity firm Northwood Urban Logistics during the construction phase.
Chancerygate has completed phase two of the scheme which features nine high specification units totalling 73,000 sq ft. Three of the properties have been pre-sold or pre-let ahead of practical completion to furniture company VIDA Living, trade retailer Screwfix and drilling tool distributor Alpen UK.
The first phase of Novus, which delivered 134,000 sq ft of urban logistics space, was successfully completed in April 2021. Occupiers include car dealership Sytner Group, valve manufacturer Oliver Valves and French laundry business Elis.
The £8m Norse Trade Park has nine Grade A units totalling 45,000 sq ft. The scheme is located off Viking Way within Congleton Business Park and is directly connected to the new £90m Congleton Link Road.
Now 60% pre-let, occupiers at Norse Trade Park include trade kitchen supplier Howdens and painting and decorating supplier PaintWell.
All the units at Novus and Norse Trade Park feature electric vehicle charging points and solar cells on their roofs which provide up to 35% of the units’ energy needs. In addition, the units are constructed from high performance building materials to reduce CO2 emissions.
Chancerygate development director, Chris Brown, who is based in the company’s Warrington office, said: “It is fantastic to have achieved practical completion on these developments which showcases Chancerygate’s expertise in meeting the demand for Grade A, sustainable accommodation across North West.
“Both Novus and Norse Trade Park are both in strategic locations which will enable businesses to be best placed to serve the locality and wider region.
Norse Trade Park
“Now both schemes are complete, we look forward to seeking further development opportunities to provide the region with new high quality industrial and urban logistics units.”
Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and asset manager and the only one operating nationwide.
In addition to Warrington, Chancerygate has offices in London, Birmingham, Bristol and Milton Keynes. The company currently has more than 3.2m sq ft of industrial space under construction or ready for development across 24 sites ranging from Bournemouth to Edinburgh.
Agents for Novus are Gerald Eve and Williams Sillitoe, while Davies Harrison and William Sillitoe are joint agents for Norse Trade Park.
