African manufacturer moves to Estuary Banks
A joint venture between developer Capital & Centric and Barnfield Construction has sold 44,000 sq ft at its speculative development in south Liverpool to insecticide developer and distributor Yanco.
Yanco is owned by investors in France and has had its administrative headquarters in Merseyside for the past 16 years with a production facility in West Africa. Due to civil unrest in the region, the company took the decision to relocate its facility back to the UK at Estuary Banks.
The £6.5m development benefited from £2.45m of European Regional Development Fund support.
Yanco paid around £60/sq ft for its units, which will now be fitted out by the developer to suit their specific requirements.
The deal follows another presale in the summer to business centre operator Business First.
Tim Heatley, director of Capital & Centric, said: "We bought the five-acre site from the Homes & Communities Agency just 18 months ago and then built all 80,000 sq ft speculatively; it's rewarding to see it all forward sold before practical completion, especially to see the new jobs it creates for south Liverpool.
"The success that we have enjoyed here means that we have the confidence to continue our portfolio in south Liverpool and will be launching the speculative 50,000 sq ft Speke Business Park before the year-end."
CBRE and Mason Owen are retained agents and acted on behalf of the developer. Hitchcock Wright acted on behalf of Yanco.
Campbell Driver Partnership was the architect.
