Work has started on the second phase of the developer’s Aintree logistics scheme, comprising 12 new built units totalling 102,000 sq ft.
Mersey Reach phase two is being led by main contractor Triton Construction under a £6.2m contract.
The latest collection of units at the scheme on Dunnings Bridge Road will range in size from 4,000 sq ft to 30,000 sq ft to deliver 102, 485 sq ft in total. Practical completion is scheduled for January 2022.
Mersey Reach’s first phase of four units totalled 112,500 sq ft and is now complete. Units have been let to precision blade manufacturer Hardy UK; builders’ merchants Selco Builders Warehouse and zero-calorie tonic start-up Skinny Tonic, which signed to occupy 12,000 sq ft in January. Caddick Construction oversaw the development.
Chancerygate then sold the first phase of Mersey Reach to Northwood Investors at the end of last year and has also pre-sold phase to the same real estate private equity firm for an undisclosed sum.
The developer opted to expand the scheme in response to “strong demand for high-quality new build industrial space across the Liverpool City Region and wider North West”, it said.
Chancerygate’s development director and head of the company’s Warrington office, Mike Walker, said: “It is great to get phase two of Mersey Reach underway following the tremendous success of phase one.
“[The scheme] is an excellent example of us doing what we do best by identifying and speculatively developing in a place where there is pent up demand for our high-quality urban logistics product.
“We look forward successfully delivering the development in partnership with Triton to create a further economic boost for Sefton and the wider Liverpool City Region.”
It is the first time Triton has worked with Chancerygate and the contractor is “looking forward to working with Chancerygate’s professional team on a project that is exciting for both our companies”, said Triton’s North West regional director Chris Quinn.
Chancerygate is one of the UK’s biggest multi-led industrial developer, with around 3m sq ft of space currently under construction or ready for development across 23 sites across the country, it said. It also manages £255m of commercial assets across 5m sq ft.
The company is also preparing to delivery new commercial development at the Peerless Refinery at Mersey Reach and its plans were approved by Sefton Council in December.