Bridgewater Point joint venture marks completion with two units under offer
Work has completed at a 130,483 sq ft development at Trafford Park in Manchester.
The Bridgewater Point scheme is a joint venture (JV) between developer Chancerygate and real estate private equity firm Northwood Urban Logistics.
The last-mile urban logistics scheme comprises 16 high specification Grade A leasehold units, ranging in size from 5,114 sq ft to 13,571 sq ft with the potential to combine units to provide a single unit of 44,694 sq ft.
Bridgewater Point has been supported by a joint multimillion-pound loan from the North West Evergreen Fund and Trafford Council to enable the delivery of high quality, sustainable employment premises.
Located at 103 Barton Dock Road, the scheme sits on one of the most prominent sites in Trafford Park and benefits from excellent access to Manchester city centre and is one mile from junction nine of the M60. Neighbouring occupiers include Kellogg’s, Amazon, L’Oréal and Adidas.
All the units at Bridgewater Point 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. The scheme has achieved an EPC A and BREEAM Very Good rating.
Following practical completion, a 12,576 sq ft unit and a 8,748 sq ft unit are currently under offer at the development.
Chancerygate development director and head of its Warrington office, Mike Walker, said: “Bridgewater Point is the first new build Grade A multi-unit scheme to be built in Trafford Park for 15 years.
“Sitting in one of the premier industrial locations for Manchester, the scheme is best placed to serve the city and the wider North West region.”
He added: “There is strong demand from businesses for high quality, sustainable accommodation, and thanks to its prime location and close proximity to key infrastructure, Bridgewater Point will help meet this.
“We have seen strong early interest in the units and currently are in serious negotiations with several occupiers, so expect to put more units under offer very soon.”
The North West Evergreen Fund exists to support the delivery of commercial property and infrastructure projects in Greater Manchester, Cumbria, Cheshire and Lancashire. It is managed by CBRE’s investment advisory team, part of CBRE Capital Advisors.
Northwood Urban Logistics is part of Northwood Investors, a privately held firm that owns and operates real estate across the US and Europe. The firm currently manages approximately $10bn of investor capital with its Manchester office headed by executive director Richard Pellatt.
Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and asset manager and the only one operating nationwide.
The company currently has around 2.65 million sq ft of urban logistics space under construction or ready for development across 19 sites ranging from Edinburgh to Chichester.
Agents for Bridgewater Point are JLL and Davies Harrison.
