Chancerygate completes £41m Cheshire logistics projects
Norse Trade Park in Congleton and the second phase of Novus in Knutsford are both open for business, with main contractor Triton Construction handing over the schemes earlier this year.
The 73,000 sq ft second phase of Novus was the first of the two to complete. With a gross development value of £33m, the project was sold to real estate private equity firm Northwood Urban Logistics while it was still being built.
Novus sits within Parkgate Industrial Estate and comprises nine units – of which three have been pre-sold or pre-let. VIDA Living has taken 50,000 sq ft, Screwfix another 5,300 sq ft, and Alpen UK has signed on for 2,500 sq ft. Just 13,600 sq ft remains and is being marketed by joint agents Gerald Eve and Williams Sillitoe.
The second Novus phase builds on from the 134,000 sq ft first phase, which completed in April 2021.
Over in Congleton, Norse Trade Park completed in March. Norse sits off Viking Way and comprises nine Grade A units totalling 45,000 sq ft.
Norse is 60% pre-let, with tenants including Howdens and Paintwell. Davies Harrison and Williams Sillitoe are the joint agents for the trade park, which boasts a GDV of £8m.
Both Novus and Norse include sustainability initiatives, including EV charging points and roof solar panels capable of providing 35% of the properties’ energy needs.
“It is fantastic to have achieved practical completion on these developments…” said Chancerygate development director, Chris Brown.
Brown added that both schemes showcase “Chancerygate’s expertise in meeting the demand for Grade A, sustainable accommodation across North West.
“Both Novus and Norse Trade Park are both in strategic locations which will enable businesses to be best placed to serve the locality and wider region,” he continued.
“Now both schemes are complete, we look forward to seeking further development opportunities to provide the region with new high-quality industrial and urban logistics units.”
Chancerygate’s interest goes beyond Cheshire. Earlier this year, the developer and partner JR Capital acquired the 108,000 Port Road Business Park in Carlisle for £7.4m
Learn more about the warehouse scene in the North West at Place’s Industrial + Logistics event on 11 May.
