Asset manager FI Real Estate Management has secured consent for a 27,000 sq ft new build scheme in Runcorn, and struck a deal to buy a further 833,000 sq ft of North Wales warehouse space.
Firem sought planning permission for 27,000 sq ft of commercial space across 13 units on land to the west of the junction between Hardwick Road and Astmoor Road, within Astmoor Industrial Park.
Modern City Architecture & Urbanism has designed the scheme, which will take up a vacant, narrow two-acre plot close to the River Mersey and Manchester Ship Canal. The proposal was amended slightly from an earlier wish to develop aorund 32,000 sq ft.
Halton’s development control committee, which met on Monday, approved the plans, along with proposals for a 360,000 sq ft warehouse by Logicor, and development-managed by Stoford, at Liberty Park in Widnes.
Firem is a prolific asset-holder at Astmoor, as it is at Wrexham Industrial Estate, where the company has extended its portfolio by 833,000 sq ft through the acquisition of warehousing company F. Lloyd (Penley), a deal completed in around a month from initial contact.
All 50 staff members at 1975-founded family business Lloyds have been retained.
A Firem spokesperson said: “F. Lloyd is known for fantastic customer service and a brilliant team of people and we’re proud to now be working with each and every one of them.
“This acquisition is part of an ongoing investment and acquisition strategy for FIREM, which puts regional growth and economic regeneration at the forefront, and reflects the importance of listening closely and responding to the market.
“We know that our existing tenants will benefit greatly from having a high-quality warehousing operation on their doorstep – with the added benefit that tailored packages will be negotiable through their existing Firem contact.”
Firem now has more than 5m sq ft of industrial space in its UK portfolio.