Mere Grange nears fully let with 21,000 sq ft deal
Developer Network Space has leased the penultimate unit at the £13m St Helens industrial scheme to an undisclosed US firm believed to be furniture retailer Wayfair.com.
The 21,375 sq ft letting leaves only one unit totalling 18,500 sq ft available at the 30-acre development off the St Helens Linkway, close to Junction 9 of the M62.
Network Space, which was acquired by property investor Richard Ainscough’s Datum Edge in 2018, completed the £7m first phase of Mere Grange that same year, comprising 90,500 sq ft across four units ranging between 18,500 sq ft and 26,350 sq ft.
Phase two, a single 51,800 sq ft unit, completed last April and is fully let to specialist laundry firm Synergy LMS on a 25-year lease.
The latest deal pertains to one of the first-phase units, following a previous 122,000 sq ft of lettings to minerals processor Kilwaughter Group, Dresser Natural Gas Solutions (NGS), Synergy LMS and electricals firm Ormazabal.
B8 Real Estate and CBRE are the joint agents on the scheme, which was developed in association with Homes England, St Helens Council and Liverpool City Region Combined Authority. In total, Mere Grange offers 162,000 sq ft of industrial space.
Housebuilder Anwyl Homes is on site delivering 82 homes on the residential portion of the site, having acquired it from Network Space last year. Caddick Construction has acted as the main contractor across all three phases.
Joe Burnett, development director of Network Space, said: “Mere Grange has proved a huge success, attracting strong covenants, which is testament to the quality of the scheme’s design, specification and great location.
“We only have one 18,500 sq ft unit available on the site, and with the increasing demand for online retail and the shortage of suitable warehouse and distribution space, we are seeing a very high level of interest and expect to be fully let before the year is out.”
Network Space says it has a 2.5m sq ft industrial land bank targeted for development over the next five years.