A Cheshire business park has been acquired ahead of a £40m scheme to build new industrial and warehousing space that could create up to 250 jobs.
Avro Business Park in Adlington has been snapped up by developer Chancerygate and specialist investor Bridges Fund Management as part of a joint venture partnership.
The 7.85-acre site is set to see the addition of an extra 165,000 sq ft of space through 18 new units ranging from 7,000 sq ft to 24,500 sq ft.
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The proposed development will be located off London Road, south of Poynton town centre, and will adjoin Adlington Business Park & Industrial Estate.
The joint venture partners acquired the site from commercial property developer Quorum Property Group for an undisclosed sum.
Neighbouring occupiers to the proposed development include confectionary manufacturer Swizzels, tray sealing and packaging line specialist Proseal and transport company William Kirk.
Chancerygate development director Chris Brown, who is based in the company’s Warrington office, said: “We’re very pleased to have secured this strategic development opportunity in an off-market transaction with Quorum.
“The new £53m Poynton Relief Road will be hugely beneficial to Avro Business Park. It will directly connect the development to the airport and the M56, providing excellent connectivity to the wider Cheshire and Manchester markets.
“We know there is strong demand for multi-unit industrial space from a wide array of occupiers across south Manchester and the wider region.
“Avro Business Park will help to satisfy and facilitate this demand while enabling up to 250 jobs for the local area. We look forward to submitting plans for the site to Cheshire East Council soon.”
Bridges partner Guy Bowden added: “Bridges and Chancerygate have shown on multiple occasions that there is strong demand from progressive local employers for high specification sustainable industrial developments – which ultimately helps to create jobs and support the growth of the local economy.”
The partners were advised by Wilmslow-based commercial property agent Williams Sillitoe on the acquisition.
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