A 2.2-acre plot at Congleton Business Park is set to become a 10-unit, 53,000 sq ft light industrial scheme with a gross development value of £7m.
Chancerygate has acquired the site and, subject to planning approval, will speculatively develop 10 light industrial units ranging in size from 2,906 sq ft to 9,548 sq ft. Units will be available on a leasehold basis.
The site is the last remaining undeveloped plot at Congleton Business Park and was bought by Chancerygate from developer Gladman Developments Limited for £525,000.
Located on Viking Way, the business park provides quick access to the A34 and Congleton Town Centre. Its occupiers include airbag manufacturer Airbags International, financial planning firm Franklyn Financial Management and Gladman’s headquarters. Congleton Retail Park, which is home to Boots, M&S and B&M, is also situated a short walk from the site.
The site will also join the new £90m Congleton Link Road, which is under construction and due to complete in April 2021.
Chancerygate expects to submit its planning application to Cheshire East Council next month and intends to bring its scheme to market branded as Congleton Trade Park.
Speaking about the acquisition, Chancerygate development manager, Chris Brown, said: “We’re very pleased to have secured this plot at the well-established Congleton Business Park. It’s an ideal location for us to bring forward high-quality trade and light industrial space across a series of smaller units and we’re already receiving a great deal of interest from major national trade occupiers.
“The new Congleton Link Road, will connect directly into the site once it completes next month, which means that our scheme will have excellent connectivity to the M6 and the wider Cheshire market plus fantastic retail and leisure amenity on its doorstep.”
Romy Silvers, commercial property director at Gladman, said: “Congleton Business Park has proved to be very successful for us and is where our head office is. We have been able to work very closely with Chancerygate through the transaction forging a very good working relationship and we hope to be able to work with them again in the future.”
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