Expansion plans for Liverpool business park
Property developers have purchased land at a strategic business park in Liverpool and plan to construct new office buildings.
Centric Property Group (Centric) has acquired a 4.6 acre site at Estuary Commerce Park, South Liverpool (pictured). Centric has purchased the land for approximately £1m and plan to spend £6m on a speculative, 86,000 sq ft development of Grade A offices and warehousing.
The new development, for which a planning application has already been submitted, is to be known as Estuary Banks. Centric has secured over £2.5m in development funding from the European Regional Development Fund. Centric are to work alongside lead construction company Barnfield Construction. Both companies are already working in partnership on the forthcoming Crown Business Park in Rochdale.
Estuary Commerce Park is a large, flagship business park located next to Liverpool John Lennon Airport. Tenants include Shop Direct Group, Lloyds Banking Group, DHL and the National Blood Centre.
Centric aim to market the new office buildings at the bio-pharmaceutical and knowledge sectors. The speculative scheme will compete for tenants with the nearby Liverpool Science Centre that launched in February. Construction is scheduled to start later in 2011 and the planned, energy-efficient buildings are expected to achieve BREEAM ratings of ‘Excellent’.
Commenting on the land sale, Mark Coulthurst, of Mason Owen’s Business Premises team, who acted on behalf of vendors Liverpool Vision, said: “In these difficult economic times it is a breath of fresh air to find somebody prepared to speculatively develop commercial property. This will be a major boost for the South Liverpool area and we are confident that the quality of the product will generate great demand in the area.”
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