Glencar picked for Birkenhead shed
Freshly armed with a £50m funding slug from Pension Insurance Corporation, Peel Ports has appointed the contractor for a 159,000 sq ft quayside warehouse at Grandidges Quay, the new UK HQ of specialist wood manufacturer Finsa UK.
Glencar will be main contractor for the design and build of the facility, which will combine a 158,904 sq ft warehouse with a 5,000 sq ft timber-framed office for returning client Peel Ports.
Procurement was initially started in 2022 for the project, at which point the job was worth £12m.
The appointment builds on an existing relationship: Glencar last year delivered a £25m, 237,000 sq ft facility at Alexandra Dock within Peel’s Port of Liverpool complex.
The Birkenhead building will become the new UK headquarters for Finsa UK, consolidating operations as the firm looks to deliver its own growth strategy.
Glencar said that the development integrates photovoltaic panels, battery storage, and rainwater reuse systems, alongside electric machinery, and sustainable timber. A full Cat B fit-out will deliver office, showroom, and trade counter spaces.
The project sits within West Float, part of the Wirral Waters masterplan. Chetwoods is the architect, and Hydrock the structural engineer. The scheme was unveiled in summer 2022, with the contractor search initially being launched later that year.
Tom Kearsley, operations director at Glencar, said: “This project represents an exciting opportunity to contribute to the transformative Wirral Waters regeneration scheme while showcasing our commitment to sustainability, innovation, and community investment.
“We are thrilled to be working with Peel Ports again and look forward to delivering a facility that supports Finsa UK’s growth while leaving a legacy in Birkenhead that extends far beyond construction.”
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Andrew Martin, group property development director at Peel Ports, added: “Finsa UK has been a valued customer of Peel Ports for more than three decades, and we are delighted to see the next phase of their growth come to life with this transformative project at Grandidges Quay.
“We are excited to be collaborating once again with Glencar, whose expertise and commitment to excellence make them the ideal partner to deliver this high-specification logistics facility.”
Work has now started, with completion expected towards year end.
The Glencar announcement comes as Peel Ports welcomes £50m in financing from Pension Insurance Corporation, an injection that takes PIC’s total investment in the business to £83m.
PIC said that its ability to offer a twelve-year financing solution, in a floating rate format, will provide the company with the additional flexibility needed to fund large infrastructure investments.
Group-wide, Peel Ports has a range of projects on the books including jobs at the Port of Greenock and in Medway, Kent.
Dr Vladan Martinovic, senior debt origination manager at PIC, said: “Regular, secure, long-term cashflows are a good match for PIC’s pension payments stretching out decades into the future. We are delighted to be able to support Peel Ports and complete an additional financing that meets their treasury needs.”
