An £8 million industrial scheme has been completed by Caddick Construction in Knowsley, Merseyside, boosting the provision of warehouse space in the area. The scheme called Element is part of a bigger development at Network Space’s Alchemy Business Park, which will provide three highly specified industrial warehouse units of 22,900 sq ft, 35,200 sqft and 45,450 sq ft.
“Element offers a prime location in Knowsley and enjoys exceptional transport links. This latest speculative development demonstrates the high level of confidence that developers have in Knowsley as a place to invest and do business,” said Dale Milburn, Knowsley Council’s Executive Director for Regeneration and Economic Development.
The development, which was supported by a £1.8 million Local Growth Fund grant, has been designed to appeal to a wide range of logistics and industrial occupiers and feature generous self-contained yards, office and car park provision, separated office and yard access with 10m eave heights and dock level access provision on the two larger units.
Once let, the Element units could accommodate up to 250 jobs and produce a net additional GVA per annum of £9.90 million for the region.
“This is Network Space’s fourth self-financed scheme to complete within the last 12 months, taking the total space delivered within that period to just under 400,000 sq ft across 14 units. Within that same period, we have already let nearly 60% of the space and have good prospects for the remaining units. There remains a shortage of industrial warehouse space across the region and this coupled with the prominence, accessibility, quality and presentation of this scheme makes Element a compelling prospect for future occupiers,” commented Stephen Barnes, Managing Director (Development) at Network Space.
B8 and CBRE are the appointed agents for the scheme and both have reported encouraging interest from a range of prospective occupiers.