Schroders advances £8m Stanley Green expansion
The investor has lodged a planning application to add 85,000 sq ft of trade counter space on a 3.4-acre site next to the Cheadle industrial park.
Schroder Real Estate Investment Trust bought Stanley Green Trading Estate, which comprises 150,000 sq ft of existing trade and warehouse accommodation, from MAS Real Estate for £17.25m last December.
As part of the deal, the firm also acquired an adjoining site, which is now the subject of the expansion plans.
The plot was previously occupied by Kleencare Ecolab, which was demolished in 2015, and would house 11 units across four buildings under Schroders’ plans.
A decision on the application is expected during the first half of 2021 and, if approved, development should commence shortly afterwards with completion targeted for late 2022, according to Schroders.
The construction contract is to be tendered shortly with an estimated total development cost of £8m.
The estimated rental value for the newly developed units will be approximately £950,000 a year, Schroders said.
PRC Group is the architect and Gerald Eve is the planning consultant.
