Redsun offloads business park to Gaerwen
Following completion of the first phase of construction, Redsun Developments has sold Helix Business Park in Ellesmere Port to Chester-based Gaerwen Properties for an undisclosed sum.
Helix is located on Newbridge Road, with the speculatively built phase one totalling 52,000 sq ft of manufacturing or distribution space across five units ranging in size from 6,000 sq ft to 15,000 sq ft. Portal Construction was the contractor.
A further 3.5-acres of land has been acquired for a second phase of development.
The park was supported by a European Regional Development Fund grant, which was administered by the Ministry of Housing, Communities & Local Government with strategic support from the Cheshire & Warrington Local Enterprise Partnership.
Helix forms part of Cheshire Science Corridor Enterprise Zone which enables qualifying occupiers to be eligible for rate relief.
Redsun director Craig Booton said: “We are now working on our next project at Hooton where we have recently acquired 23 acres from the Homes England and are currently bringing forward 450,000 sq ft of industrial space.”
Legat Owen advised Redsun on its acquisition and subsequent development of Helix. Director Stephen Wade said: “This site marks the third scheme we have successfully worked on with Redsun following on from Turbine Business Park in Birkenhead and the PowerStation in Bromborough. We are pleased to have successfully delivered the scheme for our client and be subsequently retained by Gaerwen to market the units.
“Helix will bring forward badly needed, quality employment floor space to the Ellesmere Port market. The unit sizes are ideally suited to the SME sector where companies are actively looking for ‘grow on’ space. The potential to attract a five-year business rates holiday is a major attraction and despite the fact that we have only just started on site the development is already generating healthy interest from local occupiers.”
Gaerwen Properties was advised in the purchase by Hatrick Properties. Quoting rents at Helix are £5.50/sq ft.
C4 Consulting acted as architect and project manager.