NWDA sells Speke site

Centric Property Group has acquired a 4.6-acre site at Estuary Commerce Park in Speke, south Liverpool.

Centric acquired the land, located close to Liverpool John Lennon Airport, for approximately £1m without bank debt.

The land was acquired from Liverpool Vision acting on behalf of the North West Development Agency.

Centric is proposing to construct a £6m speculative development of offices and warehousing totaling over 82,000 sq ft.

The development will be known as Estuary Banks and incorporate sustainable technology with the aim of achieving an 'excellent' BREEAM status.

A planning application has already been submitted and Barnfield Construction is the building contractor appointed.

The scheme is to benefit from over £2.53m of funding from the European Regional Development Fund and the development aims to target a range of occupiers including the bio-pharmaceutical and knowledge sectors. Construction is due to commence later this year.

Mark Coulthurst, of Mason Owen's business premises team, who advised Centric in the deal, said: "In these difficult economic times it is a breath of fresh air to find somebody prepared to speculatively develop commercial property.

"This will be a major boost for the south Liverpool area and we are confident that the quality of the product will generate great demand in the area."

King Sturge advised Liverpool Vision and NWDA on the disposal.

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