Chancerygate plots £40m Cheshire industrial
The developer has acquired the 7.8-acre Avro Business Park in Adlington from Quorum Property Group, where it plans to deliver a 165,000 sq ft industrial scheme.
Chancerygate, in partnership with investor Bridges Fund Management, intends to deliver 18 units at the Cheshire site, ranging from 7,000 sq ft to 24,500 sq ft.
The scheme has a gross development value of around £40m. A planning application for the project is to be submitted to Cheshire East Council in the coming weeks.
The proposed development would be located off London Road, adjoining Adlington Business Park and Industrial Estate.
Nearby, the £53m Poynton Relief Road is due to complete later this year.
Chancerygate development director Chris Brown said the relief road will be “hugely beneficial to Avro Business Park”.
“It will directly connect the development to the airport and the M56, providing excellent connectivity to the wider Cheshire and Manchester markets.
“We know there is strong demand for multi-unit industrial space from a wide array of occupiers across south Manchester and the wider region. Avro Business Park will help to satisfy and facilitate this demand while enabling up to 250 jobs for the local area.”
Bridges and Chancerygate have been working in partnership for a decade. Projects they have delivered together include the regeneration of Beeston Business Park in Nottingham and the development of The Curve, a student housing development in London.
Bridges partner, Guy Bowden, said: “Bridges and Chancerygate have shown on multiple occasions that there is strong demand from progressive local employers for high specification sustainable industrial developments – which ultimately helps to create jobs and support the growth of the local economy.”
The partners were advised on the Avro acquisition by Wilmslow-based commercial property agent Williams Sillitoe on the acquisition.
