Network Space sells £7m plot in Knowsley
Marchmont Investment Management has acquired the 10-acre site at Alchemy Business Park, most of which is leased to Amazon.
The online retailer uses six of those 10 acres for its fleet, storing the vehicles and charging them on the site. The remaining four acres in the Marchmont purchase from Network Space Developments will be used for open storage.
“We are delighted to add Amazon to our IOS platform and secure representation in a strong North West sub-market,” said James Rodwell, director at Marchmont.
“Via our Surface platform, we will further deliver circa four acres of best-in-class open storage to complement our growing portfolio.”
The more than £7m deal is the latest activity at Network Space’s Alchemy Business Park off the A580. The industrial scheme boasts more than 200,000 sq ft of logistics space with plans in for another 147,000 sq ft currently awaiting a decision from Knowsley Council.
“We’re delighted to have completed another positive transaction at Alchemy Business Park, which further demonstrates the site’s high-quality location and attractiveness to a wide range of occupiers and uses,” said Network Space senior development manager Simon Eaton.
“The sale marks the culmination of the hard work that went into securing Amazon on site, and we are confident that the remaining land will be attractive to other users.”
B8 Real Estate acted for Network Space on the deal with Marchmont. The investment management company, in turn, was represented by Cushman and Wakefield.
B8RE investment director Simon Wood said the sale showcased Network Space’s strength as a business.
“Having recently agreed a lease to Amazon, the sale represents another successful exit for our client and is not only testament to the institutional interest in Knowsley and the scheme but also Network Space themselves as a developer,” Wood said.
“It was fantastic to be involved in another NSD sale working with parties to reach such a successful conclusion in what is still a challenging investment market.”
