Stonebridge St. Modwen

Spec pays off for St Modwen at Stonebridge

St Modwen has agreed a pre-sale on one of the speculative units in the second phase of development at Stonebridge Business Park in Liverpool.

Fruit and vegetable supplier Almond Catering Supplies has agreed a deal to purchase the 5,117 sq ft unit in a shell condition on completion for £450,000.

The unit is one of four units currently under development at Stonebridge, a programme that is delivering 65,482 sq ft of industrial space. Completion is expected in the coming weeks.

David Nuttall, development manager at St Modwen, said: “Our confidence in this location prompted our decision to speculatively develop this phase, so to set a new benchmark for a unit sale of this size is pleasing. Now the units are nearing completion, we are seeing a good level of interest.”

GVA, Knight Frank and Pinsent Masons advised St Modwen on the transaction.

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Nearly £90 per sq ft for an industrial unit; paying off is an understatement.

By Sheds R Us