CHESHIRE SCIENCE CORRIDOR BUSINESS PARK SOLD
Updated: Jul 24
Redsun Developments has announced the sale of Helix Business Park at Ellesmere Port to Chester-based Gaerwen Properties. The announcement coincided with the completion of the first phase of speculatively built development.
Located on Newbridge Road, phase one comprises five manufacturing / distribution units offering a total of 52,000 sq ft and ranging in size from 6,000 sq ft up to 15,000 sq ft. Built by Portal Construction the units have been designed to achieve a BREEAM Excellent accreditation with features including low energy lighting and photovoltaic roof cells. Each unit benefits from clear span production floor space and fully fitted office / staff accommodation. A further 3.5 acres of land has also been acquired for second phase of development.
The development was supported by a European Regional Development Fund (ERDF) Grant. This was administered by the Ministry of Housing, Communities and Local Government with strategic support from the Cheshire and Warrington Local Enterprise Partnership.
Helix forms part of Cheshire Science Corridor Enterprise Zone which enables qualifying occupiers to be eligible for rate relief.
Speaking about the disposal, Redsun director Craig Booton, commented: “We are delighted to have completed the sale of Helix upon practical completion, which is testament to the team responsible for the delivery of the project including C4 Consulting which acted as architect and project manager throughout.
“We are now working on our next project at Hooton where we have recently acquired 23 acres from the Homes and Communities Agency and are currently bringing forward 450,000 sq ft of industrial space.”
Stephen Wade, director at Legat Owen, which advised Redsun on the acquisition and its subsequent development, continued: “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. Redsun is a quality developer with a proven track record. We are pleased to have successfully delivered the scheme for our client and be subsequently retained by Gaerwen to market the units.”
Stephen continued: “Helix Business 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 5-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.
Each unit is available to let by way of a new Full Repairing and Insuring lease at a rent of £5.50 sq ft.