Knowsley Council has approved plans for the next phase of development at the Alchemy site on Knowsley Business Park.
Network Space has also secured £1.8m investment from the Liverpool City Region Combined Authority Single Investment Fund (SIF) to deliver a new industrial workspace phase called ‘Element’.
The development, which is located directly off the A580 close to junction 4 of the M57, includes three new workspace units of 22,000, 35,000 and 46,000 sq ft which Network Space will now bring forward speculatively with a start on site expected in late 2017 and completion in the Autumn of 2018.
This latest phase of development will complement the fully occupied first phase development which totals 100,000 sq ft but comprises of smaller units, ranging between 6,000 – 12,000 sq ft.
Occupiers at the site already include National Grid, Lombard Shipping, Smith News, Autex, Northern Print and Greenbridge Technologies, and it is hoped that this new phase will capitalise on both the shortage of quality new space available within the region and on the site’s strategic and prominent location.
Cllr Graham Morgan, Knowsley Council’s Cabinet Member for Regeneration and Economic Development said:
The Element development at Alchemy is the first of its scale and nature to be developed across the Liverpool City Region for a number of years and its position on Knowsley Business Park provides exceptional transport links to Liverpool, Manchester and beyond. This latest phase of development is a further demonstration of the confidence that developers have in choosing Knowsley as a place to invest and do business.
Stephen Barnes, Managing Director (Development) for Network Space said:
Element is one of a number of industrial warehouse schemes that we are delivering speculatively this year as we seek to enlarge our retained industrial property portfolio. Our first phase scheme at Alchemy called Platinum Court has been fully occupied for some time now and we wanted this next phase, Element, to both complement Phase 1 whilst also providing occupiers with a different offer. Each of the three proposed larger units is self-contained and features dedicated and generous yards and, in the case of the larger two units, dock loading facilities. Our Alchemy site is one of the prime locations within Knowsley Business Park and market feedback from our retained Agents CBRE and B8 Real Estate has been extremely encouraging.
Steve Rotherham, Metro Mayor of the Liverpool City Region said:
I am delighted that the City Region Combined Authority are supporting this important new phase of expansion which will provide more of the kind of well-located modern industrial space that we need to grow our economy. It’s vitally important that we can continue to provide a pipe-line of different types of employment space tailored to the needs of both local businesses and those looking to locate in the City Region. The Alchemy site has proven its attractiveness with an impressive mix of blue-chip occupiers, I have every confidence that the latest phase of investment will be equally successful.