Developer plans £6m scheme for Estuary Commerce Park in Speke
A property development firm is planning a £6m speculative office and warehouse development at Estuary Commerce Park, in south Liverpool.
Centric Property Group yesterday acquired a 4.6-acre site at the park in Speke for £1m.
It was sold by economic development agency Liverpool Vision on behalf of the Northwest Development Agency.
The scheme, to be called Estuary Banks, will comprise 82,000 sq ft and the European Regional Development Fund will contribute £2.535m towards the development cost.
It will target a range of occupiers, including the bio-pharmaceutical and knowledge sectors.
Construction on the site, close to Liverpool John Lennon Airport, is due to start later this year.
A planning application has been submitted and Barnfield Construction has been appointed as the building contractor.
Centric was advised on the deal to buy the land by the business premises team of Liverpool commercial property agency, Mason Owen.
The team’s Mark Coulthurst told LDP Business: “In these difficult economic times, it is a breath of fresh air to find somebody prepared to speculatively develop commercial property.
“This will be a major boost for the south Liverpool area and we are confident that the quality of the product will generate great demand.
“Mason Owen is absolutely delighted to be involved in such a prestigious project.”
Estuary Commerce Park is a Strategic Regional Site in the South Liverpool International Gateway, one of five strategic investment areas in Liverpool.
King Sturge advised Liverpool Vision and NWDA on the disposal.
Centric Property Group was founded by Tim Heatley in 2009.
In September last year, it announced the start of Greater Manchester’s only speculative industrial and office scheme.
The 18-acre Crown Business Park, in Rochdale, finishes later this year.
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