Houston-based Hines and their UK partners Chancerygate and Hines have purchased the last five-acre development plot at Gemini8, Warrington. It is the sixth deal the partners have agreed.
The proposed scheme will provide around 20 units ranging from 3,500 to 12,000 sq ft. Chancerygate and Hines will submit a planning application for the development in the forthcoming months and say they will commence speculative development as soon as possible.
Demand for small-box and last mile logistics units around Liverpool and Manchester is high.
The 14-acre Gemini8 since has a frontage to the M62 at junction 8. Its occupiers include health and fitness club Athelis, Travelodge, Harvester, Starbucks, Subway, Frankie & Benny’s and Marston’s The Skymaster. Other major occupiers on the wider Gemini area are Marks & Spencer and IKEA.
Chancerygate development director and head of the Warrington office, Mike Walker, said: “This is undoubtedly one of the best locations in the North West and it is perfect for our product. We have wanted to acquire a prime site in Warrington for a number of years because we are confident there is huge pent up demand for new, well-specified freehold units.
Greg Cooper, Hines UK director of industrial and logistics, said: “The site represents another great acquisition for our growing portfolio with Chancerygate. Since its inception just over a year ago, it’s proven to be a fruitful partnership adept at identifying well located sites across the UK and at executing quick transactions to allow us to deliver schemes at pace.”