MIPIM UK: Morley buys 500,000 sq ft Knowsley shed
Morley Estates has acquired KME Group’s former copper tube production warehouse on Knowsley Industrial Park for more than £9m, and has launched the site to potential tenants at MIPIM UK as Titan.
Fronting the A580 East Lancashire Road, the warehouse is situated on a 26-acre site. Morley Estates said it plans to invest “a substantial sum to speculatively and comprehensively redevelop the building” to provide up to 500,000 sq ft of warehouses.
Matt McConville of Morley Estates said: “This is a significant acquisition for us as we look to continue to aggressively grow our portfolio. As one of the largest vacant possession sites currently available in the North West, we successfully bid against a large number of other interested parties to secure the deal.
“We are now working closely with Knowsley Council as we hope to start on site with the redevelopment works as soon as possible.”
Titan can accommodate requirements of between 100,000 sq ft to 454,000 sq ft.
B8 Real Estate and Kuits advised Morley Estates on the deal. Mason Owen acted on behalf of the vendor, KME Group.
B8 and Mason Owen have been retained as the joint letting agents.
Knowsley Council and Morley Estates are working in partnership to bring forward Titan, and are using the council’s stand at the MIPIM UK property conference in London this week to promote the warehouse to occupiers.