£15m investment in East Manchester speculative logistics and industrial scheme
Developer Chancerygate has acquired a 2.3-acre site in East Manchester to speculatively build 59,500 sq ft of Grade A urban logistics and industrial space which could create up to 60 jobs.
The site, which was formerly Walkers of Manchester’s printing facility, is located on Crabtree Lane in Clayton three miles east of Manchester city centre and two miles west of junction 23 of the M60 motorway.
Chancerygate intends to develop nine units ranging from 4,000 sq ft to 14,000 sq ft and, once complete, the scheme will have a gross development value of around £15m.
The proposed development sits near to the Eastlands Regeneration Area centred around Manchester City FC’s Etihad campus and the upcoming £365m Co-Op Live entertainment venue.
Immediately adjacent the intended scheme is a retail scheme fronting Ashton New Road, with Aldi, Subway and Greggs among the occupiers.
Chancerygate development director, Chris Brown, who is based in the company’s Warrington office, said: “This site presents the perfect opportunity to deliver a true urban logistics development, thanks to its excellent connectivity and close proximity to both Manchester city centre and the M60 motorway.
“East Manchester has been deprived of good quality new industrial development for a generation and we envisage the site appealing to a wide range of occupiers including trade, logistics, retail and industrial amongst others.
“With the large scale regeneration and investment focused on East Manchester, the site will enable occupiers to be located in the best place to serve the wider city region, whilst also stimulating economic growth and job creation.”
Chancerygate is aiming to submit plans for the development to Manchester City Council before the end of the year.
The developer was advised on the site acquisition by Colliers and the site was sold by WT Gunson. Both these parties are retained as disposal agents going forward.
