Chancerygate secures deals for 55 per cent of phase one of GBP33m Novus site in Knutsford

Industrial developer Chancerygate has successfully disposed of more than half of the units available at phase one of its GBP33m Novus site in Knutsford.

In addition to pre-letting 36,000 sq ft to auto retailer Sytner Group last year, Chancerygate has sold a further four of the development’s nine units, totalling 23,383 sq ft, making it 55 per cent pre-let and sold.

 
Global industrial valves manufacturer Oliver Valves has bought three units comprising 17,387 sq ft, further extending the company’s significant presence in the wider Parkgate Industrial Estate. The company will use the facilities to expand its instrumentation, subsea and pipeline valves product range.
 
Oliver Valves chairman, Dr Michael Oliver OBE DL, says: “We have been present on Parkgate Industrial Estate for more than 40 years and Novus provided the perfect opportunity for us to buy a Grade A industrial facility and ensure our long-term growth plans were catered for. We look forward to seeing the development progress over the next few months.”
 
One further unit totalling 5,996 sq ft has been purchased by medical cosmetics distributor Wellness Trading. The company is the exclusive UK and Ireland distributor for Mesoestetic products, a world-leading brand in the medical cosmetics and aesthetic medicine sector.
 
Novus is a 252,000 sq ft industrial and warehouse development across 16-acres situated on the established Parkgate Industrial Estate in Knutsford and is set to create 700 jobs. It is currently Chancerygate’s largest site in the north of England.
 
Following a GBP10.7 million contract awarded to Caddick Construction in September, work on the first phase of Novus is well underway. The four remaining units in phase one range in size from 13,974 ft to 24,786 sq ft.
 
Chancerygate development manager, Chris Brown, who is based in the Warrington office, said: “Securing occupiers for more than half of our flagship North West development only two months into the build is an excellent achievement. We couldn’t have asked for a better start.
 
“The swift take-up of these units is testament to the pent-up demand in Knutsford from owner occupiers for high-quality industrial and warehouse space, and the limited options available to businesses for many years now.
 
“With four units remaining in phase one, we look forward to continued discussions with potential occupiers ahead of completion in September 2020. We are now accelerating our plans to bring phase two forward, proposing more units under 10,000 sq ft.”
 
Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide. In addition to Warrington, the company has offices in London, Birmingham and Milton Keynes. Its development team has more than 2.6 million sq ft of industrial space under construction or ready for development.
 
Joint agents for Chancerygate at Novus are Gerald Eve and Williams Sillitoe.