Plans have been submitted to build a new industrial and warehousing development spanning seven acres in Trafford Park which is estimated to be worth £30 million.
The proposals, which would be located on Barton Dock Road, comprise 16 units ranging from 5,000 sq ft to 13,000 sq ft and would be sold to businesses on a leasehold basis. The development would consist of 131,000 sq ft of space in total.
Subject to planning approval from Trafford Council, work on the proposed development would begin in early 2023. The ‘Grade A urban logistics’ space is a joint venture between developer Chancerygate and real estate private equity firm Northwood Investors.
Developers say the space, which has a projected gross development value of around £30m, would benefit from access to Manchester city centre and is one mile from junction 9 of the M60. Neighbouring occupiers include Kellogg’s, Amazon, L’Oréal and Adidas.
Chancerygate development director and head of its Warrington office, Mike Walker, said: “We’re very pleased to have submitted our first joint planning application as part of our JV with Northwood Investors. Trafford Park is widely regarded as the prime industrial and logistics location in Manchester.
“This is a hugely exciting opportunity to deliver the first multi-unit development on the park for more than 14 years and provide the area with high specification, sustainable urban logistics and industrial accommodation.”
The planning submission is Chancerygate and Northwood Investors’ first joint application since launching its joint venture in September 2021. The venture plans to target speculative urban logistics development opportunities in key cities throughout the UK over the next 18 months.
Founded in 1995, Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide. The company currently has more than 3.5m sq ft of industrial space under construction or ready for development across 32 sites ranging from Bournemouth to Edinburgh. In addition to Warrington, Chancerygate has offices in London, Birmingham, Bristol and Milton Keynes.
Northwood Investors is a privately held firm that owns and operates real estate across the US and Europe. The firm currently manages approximately $9bn of investor capital with its Manchester office headed by executive director Richard Pellatt. Agents for the proposed scheme are JLL and Davies Harrison.
Other recent proposals in Trafford include a huge £1bn development with 3,000 homes which would be situated opposite the Trafford Centre and a new hydrogen power plant which could be built on the Salford and Trafford border.
Trafford news updates direct to your inbox with our email newsletter.
