The off-market deal will see Kier, in partnership with Investec develop an industrial scheme under its ‘Trade City brand’. The Trade City JV propose to develop a new multi-unit industrial and trade development.
Subject to planning, the proposed scheme will deliver new industrial and trade units which will be designed to high specification offering occupiers flexible and energy efficient space. The scheme will offer businesses in the locality the opportunity to grow and expand which will create new employment opportunities in the area.
The site is approximately one mile north of Manchester City Centre and forms part of the established Cheetham Hill Industrial area. It is ideally located directly opposite Cheetham Retail Park and adjacent to Manchester Fort Shopping Park, it also has easy transport links with direct access to the city centre via the A665 Cheetham Hill Road, access to the Manchester & Salford Inner Ring Road and the motorway networks, as well as being 10 miles north of Manchester International Airport.
Kier Property’s senior development manager, Henry Martin commented: “We are delighted with our purchase at Elizabeth Street and look forward to regenerating the site. Our plans to develop an employment scheme at Elizabeth Street are based on the site’s excellent location in an established industrial area of the city, Manchester’s growing population and the limited supply of modern industrial properties to satisfy the requirements of growing businesses in the Greater Manchester area.”
This is Kier Property’s 48th industrial scheme in the UK. It also has schemes in Winsford, Whiteley, Gravesend, Andover, Maidenhead and Luton.
Kier was advised by Colliers International.