Croft Retail Park, Redsun, p Inform Comms

Three of the units have been pre-sold. Credit: via Inform Comms

Caddick starts Redsun’s 70,000 sq ft Wirral industrial 

Two drive-thru restaurants, four trade counter units, and a self-storage facility are being delivered at Croft Retail Park in Bromborough. 

Redsun’s 70,000 sq ft project, which is being funded by a £5.2million loan from Merseyside Pension Fund, will be built by Caddick Construction. 

Since acquiring the site in January, Redsun has struck deals with Gastronomy Food UK to deliver the drive-thrus, and Lok’NStore for the self-storage facility. 

Gastronomy Foods and Lok’NStore represented themselves. CBRE is the retained adviser for Merseyside Pension Fund. 

Herbin Duffield, director at CBRE Capital Advisors, said: “We are pleased to have arranged another MPF Catalyst Fund loan in the Wirral, our second in the borough, showing support for local development and jobs in the administering local authority area of our pension fund client.  

“The majority of the loan security is pre-sold to a national operator and the trade counter and light industrial market is strong – presenting a good risk and return profile for our client, while also being an attractive leverage and flexible loan proposition for Redsun.” 

Caddick is due to complete the first phase of the project by June next year. A further phase of development will come forward at a later date. 

Nick Wightman, director at Redsun, said: “Merseyside Pension Fund’s commitment to our project has enabled us to get underway with the delivery of this scheme. This is one of the most prominent development sites on the Wirral so we’re very pleased to be bringing this forward. 

“We have strong early interest in the remaining available units and have received a number of enquiries for the future phase on a build-to-suit basis.” 

The project team includes architect Fletcher Rae, project manager Langton Development Services, Link Engineering, and M&E engineer KGA. 

B8 and Legat Owen are joint letting agents for the scheme. 

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