The developer has handed Caddick an £11m contract for the first phase of the scheme in Knutsford, part of which is already pre-let to automotive company Sytner, with eight more speculative units also set to be delivered.
Caddick will start work imminently on the first phase, which includes 132,000 sq ft of industrial and warehouse space across nine units. One unit totalling 30,000 sq ft has been let to Sytner, a pre-delivery inspection services company that includes McLaren, Bentley, and Rolls Royce among its clients.
Situated at the eastern end of the Parkgate Industrial Estate in Knutsford, the wider Novus site includes a total of 244,000 sq ft of employment space and has a gross development value of £33m.
The first phase of the 16-acre site is set to complete in September 2020, and it is the largest within Chancerygate’s current portfolio. Gerald Eve and Williams Sillitoe are the joint agents.
Chancerygate development director and head of the company’s Warrington office, Mike Walker, said: “Novus is our flagship development in the North West and working alongside Caddick we start construction with real momentum.
“They have an excellent track record of successfully delivering projects of this type and scale, and we are very pleased to be working with them for the first time.
“Our recent Sytner deal at Novus demonstrates Chancerygate’s ability to secure strategic locations and deliver an excellent standard of product. We are also committed to investing in the highways around the development to the benefit of all local businesses and residents.
“This combined with the potential 700 jobs we expect Novus to create means it will bring a significant boost to the local economy.”