Planning submitted for speculative development in Liverpool
Date: 23.05.2011
Barnfield Construction and Centric Property Group plan to redevelop a 1.86 hectare (4.6 acre) site at Estuary Commerce Park, South Liverpool.
The land, close to Liverpool Airport, was acquired from Liverpool Vision acting on behalf of the North West Development Agency. King Sturge advised Liverpool Vision and NWDA on the disposal.
Centric, advised by Liverpool property agents Mason Owen, acquired the land for approximately £1.0 million without bank debt. Centric, are proposing that Barnfield construct a £6.0m speculative development of offices and warehousing totaling over 7,600 m2 (82,000 ft2).
The development, to be called Estuary Banks will incorporate sustainable technology to achieve BREEAM Excellent status, a planning application has already been submitted and Barnfield Construction have been appointed as the Building Contractor.
The scheme is to benefit from over £2.535 million of funding from the European Regional Development Fund and the development will target a range of occupiers including the bio-pharmaceutical and knowledge sectors. Construction is due to commence later this year.
Estuary Commerce Park is a Strategic Regional Site in the South Liverpool International Gateway, one of five strategic investment areas in Liverpool and recognised for its economic importance not only to the City of Liverpool, but the wider Liverpool City sub region and North West England.
Mark Coulthurst, of Mason Owen's Business Premises team, said: "Mason Owen is absolutely delighted to be involved in such a prestigious project. 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 in the area."
The European Regional Development Fund (ERDF) is making a real difference to people and businesses in the Northwest. With €755 million to invest between 2007 and 2013, ERDF is enhancing the competitiveness of the region’s economy by supporting growth in enterprise and employment.
