Chancerygate and Royal London Asset Management have been granted planning consent for a further 105,000 sq ft of industrial development at Satellite Park, Oldham.
The next phase, known as Satellite Park 2, will consist of a 64,000 sq ft distribution unit overlooking the M60 and eight further units ranging from 3,000 sq ft to 9,500 sq ft.
The development JV is to start a tender for construction and hopes to make a start on site as soon as possible, it said after securing consent at last Friday’s Oldham planning committee.
Fletcher Rae has designed Satellite Park 2, with Hourigan Connolly acting as planning consultant. CBRE and B8 Real Estate are retained letting agents.
Last year, Chancerygate completed a bespoke 60,000 sq ft unit for DPD at Satellite Park and refurbished an 18,000 sq ft unit, subsequently let to national plumbing merchant Williams & Co.
Mike Walker, development director for Chancerygate in the region, said: “We are delighted to have obtained this consent and will now start work to go out to tender so we can get on site as soon as possible to build the scheme.
“Our confidence to proceed with this next speculative phase of the scheme is due to the success of the first phase and the continued demand from potential occupiers for more units. The industrial multi-let sector in Manchester is extremely healthy at present and we believe that this scheme will come on stream at just the right time.”