Regeneration specialist St. Modwen has secured planning consent for the second phase of Stonebridge West. Stonebridge West sits within Stonebridge Park, a 60-acre business park strategically located fronting the East Lancashire Road in Liverpool.
The decision follows completion of phase one, a 69,197 sq ft distribution depot for DPD Geopost. Phase two comprises four detached warehouse units fronting the A580 East Lancashire Road. St. Modwen is planning to speculative develop the scheme with completion due for Q3 2016. The four units will range from 5,000 sq ft to 30,000 sq ft and each benefit from their own self-contained site.
David Nuttall, development manager at St. Modwen, said: “We have already demonstrated our commitment to this location by commencing the speculative development of nearly 16,000 sq ft of new build accommodation at Hermes Road, Stonebridge East this month.
"Having secured planning consent for these units, we intend to commence development imminently. This latest investment shows our on-going commitment to the area and our appetite for new opportunities within the North West.”
St. Modwen has retained Knight Frank and GVA Bilfinger as letting agents for the scheme.
Steven Manifold, associate in the Industrial & Logistics team at Knight Frank, added: “It is very encouraging for the wider market to see speculative development of smaller units taking place.
"So far in the cycle the majority of speculative space has been units of 100,000 sq ft plus. The decision by St. Modwen to build out phase two at Stonebridge West shows the confidence in the improving market and Stonebridge as a business location.
"Knight Frank are excited to be involved in the project and we expect to see good demand for the units during the build period.”