Latest phase of Alchemy reaches completion
Element, the £8m second phase of development at Network Space’s Alchemy Business Park in Knowsley, has been completed by Caddick Construction.
The speculatively built phase totals 103,550 sq ft, across three units of 22,900 sq ft, 35,200 sq ft and 45,450 sq ft , accessed directly from the A580. Network Space said that the units have each been designed to appeal to a wide range of logistics and industrial occupiers, featuring generous self-contained yards, office and car park provision, separated office and yard access with 10m eave heights and dock level access provision on the two larger units.
Development was supported by a £1.8m Local Growth Fund grant, awarded to the Liverpool City Region LEP and invested through the Combined Authority’s Strategic Investment Fund.
Stephen Barnes, managing director of development at Network Space, said: “This is Network Space’s fourth self-financed scheme to complete within the last 12 months, taking the total space delivered within that period to just under 400,000 sq ft across 14 units.
“Within that same period, we have already let nearly 60% of the space and have good prospects for the remaining units. There remains a shortage of industrial warehouse space across the region and this coupled with the prominence, accessibility, quality and presentation of this scheme makes Element a compelling prospect for future occupiers.”
Steve Rotheram, metro mayor of the Liverpool City Region, said: “We are working hard to make sure that economic growth benefits Knowsley and everyone in our city region, which is why we have backed this scheme which could potentially create hundreds of jobs and boost the local economy by around £10m a year. I’m pleased to see the latest phase completed and I look forward to seeing the whole development thriving.”
Caddick was appointed contractor for the project following its successful completions of Network Space schemes in St Helens and Stoke. B8 and CBRE are instructed as joint agents.
In September 2016, Network Space submitted plans for 270,000 sq ft of development on 20 acres adjacent to its existing Alchemy estate, a previous consent for the wider holding having lapsed.