Cheshire proving to be a magnet for investment
CHESHIRE saw a significant lift in property deals last year, according to the latest research.
The Cheshire Property Report breaks down trends across the two authorities and in Warrington.
Investment volumes were up across the board, particularly in Warrington and Cheshire West where the value of transactions increased by 75% and 100% to £140m and £150m respectively.
In Warrington interest in industrial units drove the numbers – notably Travis Perkins’ £52m sale and leaseback with Standard Life – while retail was responsible in Cheshire West where the Crown Estate bought the Coliseum Shopping Park in Cheshire Oaks for £81m.
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There was also demand for offices. In Cheshire East take-up doubled to around 250,000 sq ft in 43 deals. Some three quarters of all the deals were below 5,000 sq ft, reflecting the area’s large number of small businesses.
Take-up in Warrington jumped by 30% to nearly 400,000 sq ft with some high profile lettings such as the Independent Police Complaints Commission Hillsborough investigation taking 38,759 sq ft Renaissance House, Centre Park.
Industrial take-up was particularly strong in Warrington where Omega on the M62 helped the town let around two million sq ft , 30% on a previous high in 2010.
At the launch of the report, 150 attendees heard that the planned Cheshire Green Employment Park near Nantwich could deliver up to 1.4 million sq ft of floorspace.
Among the speakers were Chris Roberts, development director at Bruntwood which has permission to double the size of commercial space at Booths Park, near Knutsford to 400,000 sq ft. He also spoke about the firm’s plans for the 400-acre Aldrely Park site which has been acquired from Astra Zeneca.
Nicholas Brown, head of partnerships at Marketing Cheshire, said: “Reviews such as these prove vital in highlighting the strength of the region’s growth, investment, and future developments and to gather people together to help facilitate those opportunities.”
