Triple sale at Cheshire industrial nets owner £5m

Owner Phillip Posnett has sold three prominent sites at his Cheshire Green Employment Park in Nantwich.

While the sites sold for a combined £5m, the value of each sale was not disclosed. However, £350,000 per acre is the guide price for Cheshire Green plots.

Medical testing kit provider Everything Genetic has taken on the 6.5-acre Plot 7 – the largest of the three sites. Everything Genetic aims to build a more than 130,000 sq ft warehouse. Based on the £350,000 per acre guide price for Cheshire Green plots, Plot 7 would have been marketed around £2.3m.

Property company Spitfire is growing its presence at Cheshire Green, purchasing the 2.3-acre Plot 3. This is the fourth purchase at the park for Spitfire. The company wants to build a 30,000 sq ft speculative shed on the plot, whose guide price would have been £805,000.

The final sale was for the 3.1-acre Plot 4. Andrews Property Investment acquired the site to enable a retained client to build a 50,000 sq ft facility. The guide price for the plot would have been around £1.1m.

Legat Owen acted for Posnett on all three deals. Everything Genetic, Spitfire, and Andrews Property Investment were unrepresented.

Matthew Pochin, director at Legat Owen, said: “Cheshire Green has proven consistently that it has the ideal qualities that Cheshire businesses want. It’s great that we can enable the growth ambitions of companies like Everything Genetic and we provide homes for growing businesses.”

With the sale of the three sites, Posnett is now turning his attention to the second phase of the industrial estate. Already proving popular, an unnamed international manufacturer has already signed an exclusivity agreement for 12 acres of this second phase.

Cheshire Green Employment Park sits off the A51. The estate has planning permission for nearly 1.5m sq ft of industrial, logistics, and open storage sites. There are other plots available for purchase, ranging from one to 20 acres in size.