Work has begun on a 126,000 square foot combined Class A industrial space in Knutsford and Congleton.
Industrial developer Chancerygate, which has an office in Warrington, said it marked a good start to the year for the team, which submitted plans in January to speculatively build 72,000 square feet of industrial space and warehousing in Bredbury, called Cromwell Park.
Subject to planning, it will include 10 rental units ranging from 1,930 square feet to 22,000 square feet.
In Knutsford, Chancerygate has started work on phase two of its £33million, 207,000sqft Novus Business Park, located in the Parkgate Industrial Estate.
The second phase will provide 73,000 square feet of industrial space and create up to 100 jobs. It includes nine units ranging from approximately 2,000 square feet to 50,000 square feet that are available freehold and leasehold.
A bespoke 50,000 square foot unit on phase two has already been eventually sold to furniture company VIDA Living. The company will move its UK operations from Cheadle and use the unit for storage and distribution purposes. The practical completion of the second phase is scheduled for the fourth quarter of this year.
Work has also started on the Chancerygate development within the Congleton Business Park. Called Norse Trade Park, the £7 million, 53,000 square foot scheme will feature 10 leasehold units.
These range from around 2,900 square feet to 9,550 square feet, including one already pre-let to kitchen supplier Howdens. The practical completion of the development is expected by October.
Chancerygate Development Director and Warrington Office Manager Mike Walker said: “We had an exceptionally strong 12 months last year and carried that momentum into 2022. Our forward sale and pre-lease at Novus and Norse Trade Park, respectively, are indicative of the strong demand for multi-tenant Class A industrial and warehousing accommodation in the North West.
Following the completion by PJD Group of its refurbishment of the Grade II listed One Express on George Leigh Street in Ancoats, in September 2021, 21,580 square feet of a total of 25,700 square feet of net leasable space is either let , or proposed.
Among the tenants who have completed their leases are Talent International (recruitment in the tech and digital sector), Social (communication consultants), LinqHC (health recruitment consultants), BGN (branding and digital agency), Nexus Planning (development and regeneration consultants) , Studio North (brand consultancy) and Rosso & Azzuro (online clothing retailer).
They all took fully fitted ‘plug and play’ format units, which were designed by PJD Group to include high quality kitchens and office furniture.
Lease terms vary between two and five years, with rents between £25 and £27.50 per square foot. Mark Davies, owner of PJD Group, said: “Our vision from the start was to produce Grade A offices in Ancoats, which was mostly fully serviced, as the market has clearly moved towards this model, with the owner absorbing the cost by capital of office space layout.
“This has proven attractive to the market, as evidenced by the speed with which the first tenants have committed to the building, and we expect to announce a number of new lettings in early 2022.”
The rental agents were OBI and Daniel Harris and Co.
The Holiday Inn Express at Chester Racecourse has undergone a £200,000 refurbishment of the bar and lounges.
Features of the refurbishment will provide guests with a much improved leisure and dining experience with a new modern breakfast room, fully refurbished bar and seating, outdoor seating area with planters, pods for evening drinks and a new air conditioning and heating system.
The renovation follows a record summer for the hotel which saw occupancy rates of 99.75% due to the rise in the staycation market.
Chief Executive Lucy Edwards said: “Following the disappointment of having to close early last year due to the pandemic, we were delighted to see a record summer with occupancy rates well above the average at 99.75%.
MBL Business and Tax Advisers took up office at Fairbank House, Ashley Road, Altrincham.
The firm has taken an assignment of a five-year lease from 2020 for a second-floor suite offering 1,100sqft, in this 9,000sqft office building, at a break-through rent of £21,000 per year.
Mike Bulcock, Managing Director of MBL, said: “We have extended our offices in Broadheath and this move to newly refurbished offices in the city center has met with universal approval from the team and we look forward to building on this. our success in the future as we continue to expand our customer base.
Daniel Lee of Regional Property Solutions, who represented owner Hyrst Garth Estate, said: “This suite of offices was previously occupied by Forever Legal who have moved to larger offices near Lindley Court and we have negotiated the disposal of his lease to MBL. ”
Tenant Advisory Group acted for MBL.
Chester developer Blueoak Estates has acquired Royal House, on Upper Northgate Street, to transform commercial buildings into luxury homes.
Work is underway to develop 16 one-bedroom apartments for first-time buyers.
The developer says they will be big and spacious, with huge striking windows to flood each unit with light, located on what is considered one of the city’s most desirable spots.
The site is close to fashionable Northgate, near the city walls, and the £72m Northgate retail and leisure development, with many independent retail outlets and restaurants .
Royal House is the 10th development in the City of Chester that Blueoak has led over the past six years.
Managing Director Iain MacLean said: “It is extremely important to us that the projects we build leave a lasting and lasting legacy that supports and enhances the local environment and community. Once again, we have acquired an unwanted building that required major repurposing and reconfiguration to create homes suited to modern needs and expectations.
“Furthermore, we strongly believe that using existing buildings such as Royal House helps breathe new life into town centers struggling under the threat of challenging retail conditions weighted by shopping experiences in line.”
The project should be launched this summer this year.