The developer’s industrial and logistics arm has completed the first phase of its 17-acre Chamberhall Business Park, comprising 130,000 sq ft of commercial space, with 65% of the available units under offer to prospective investors.
St Modwen is now looking to sell or lease the remaining 35% of the space, which is spread across 14 units.
The development, which won planning consent in January 2019, is located on Harvard Road off the A56 and is one of Bury Council’s allocated employment sites.
St Modwen sold the first unit, totalling 19,000 sq ft, to Burgaflex, an car tube and hose manufacturer, in January for £1.8m.
A further two deals with unnamed owner-occupiers have been agreed since then and another six units are under offer, according to the developer. Some 44,000 sq ft, across four 11,000 sq ft units, remains available.
Gemma Butler, asset manager at St Modwen Industrial & Logistics, said: “There is a significant appetite for industrial and logistics space in the North West, evidenced by us having already let three new units at Chamberhall to respected companies – and with a further six under offer.
“The business park provides high-quality distribution and logistics hubs, and the demand from occupiers demonstrates our confidence in speculatively building in the area.”
Nolan Redshaw and Knight Frank are the agents for Chamberhall Business Park, which was designed by Pozzoni Architecture. The lead contractor is Lindum Group.
The second phase of the scheme is still being planned, but could comprise offices and leisure uses.