Cheshire West & Chester. Property Review Visit:

Transcription

1 Cheshire West & Chester Property Review Visit:

2 02 Cheshire West & Chester Property Review

3 Cheshire West & Chester Property Review Introduction This report highlights a significant number of investments and progress in the major schemes across the borough. Across Cheshire West and Chester, investment and development continued to be healthy within the 12 months to April A number of key investors have committed to expansion or relocation within the Borough and a healthy pipeline of enquries exists across retail, industrial and office sectors. A significant number of opportunties offering investment potential have come to fruition including the award of Enterpise Zone status across Ellesmere Port and the development of the Northern Gateway Development Zone in Mid Cheshire to maximise economic opportunities linked to HS2. Commencement of work on the Chester Bus Interchange and the completion of the new Storyhouse cultural centre form part of the transformational plans for Chester as part of the Northgate development The Council embarked upon a proactive Property re-investment programme liquidating assets to release capital for new developments across a number of key sites within Chester, Ellesmere Port and Winsford. Supported by European funding, further plans were submitted to develop a number of new industrial units; work will commence during A refresh of the Council s Economic Growth Strategy was undertaken to review and prioritise major projects across the four key programme areas and embed wider issues influencing growth in the area including skills provision, business support, transport infrastructure and funding.

4 04 Cheshire West & Chester Property Review Chester Bus Interchange Work started on the main building which is due for completion 2016/17. The 14m investment will improve pedestrian linkages to the Northgate development. Frodsham Street Forming the gateway to the city from the new bus interchange, public realm improvements will include wider pavements, better pedestrian access and seating. Chester Cultural Centre Name for theatre complex announced as Storyhouse. The 37m cultural centre is on site as of spring 2016 and is due to open in spring Central Business Quarter (City Place) 70,000 sq ft BREEAM excellent Grade A office space now complete and space planning with future occupants. Accompanying public realm development at The Carriage Shed opening on schedule in summer 2016.

5 Cheshire West & Chester Property Review Chester s Industrial Sector 07/05/15 07/05/15 River Ln Chester 16,500 Asking 07/05/15 Beresford Adams Commercial Ltd 15/01/16 01/06/16 Bumpers Ln Chester 14,000 Asking 01/06/16 15/01/16 01/06/16 Bumpers Ln Chester 12,500 Asking 01/06/16 Bolton Birch, Legat Owen (Incorporating Lamont) Bolton Birch, Legat Owen (Incorporating Lamont) Office Sector 01/11/15 01/12/15 Vicars Lane Chester 4,864 Asking 01/12/15 Beresford Adams Commercial Ltd 01/11/15 01/11/15 Honeycomb Chester 4,510 Asking Deepbridge Capital 01/11/15 01/10/15 01/10/15 Crook St Chester 3,353 Asking 01/10/15 Beresford Adams Commercial Ltd 01/11/15 01/11/15 Steam Mill St Chester 3,165 Asking 01/11/15 Legat Owen (Incorporating Lamont) Retail Sector 23/04/15 23/04/15 St Michaels Chester 23,000 TK Maxx 23/04/15 23/04/15 23/04/15 St Michaels Chester 16,500 Sports Direct 23/04/15 01/03/16 01/03/16 Sealand Rd Chester 12,250 Wren Kitchens 19/04/16 Cushman & Wakefield 01/05/15 01/05/ Eastgate St Chester 9,726 Achieved Fat Face 22/06/16 Wild Commercial Property Ltd 11/01/16 11/03/16 Bumpers Ln Chester 9,673 Effective Inchcape plc 11/03/16 Legat Owen (Incorporating Lamont) Property reinvestment programme Jupiter Drive, Sealand Road Industrial Estate Land at Sealand Road Big Storage Land Rover

6 06 Cheshire West & Chester Property Review Ellesmere Port Cheshire Science Corridor Enterprise Zone Will allow new investors to benefit from enhanced capital allowances in Ellesmere Port and at the Thornton Science Park. Ellesmere Port Gateways Environmental upgrading to Ellesmere Port Station Gateway and improved cycle and pedestrian access along Whitby Road/Station Road 1.29M Stanney Lane Boulevard A new shared surface boulevard linking the town centre with Cheshire Oaks has been completed Ralph Lauren Polo 14,000 sq ft flagship store opened at Cheshire Oaks November 2015 Paradise Island adventure golf 13,000 leisure park opened December M Ellesmere Port Sports & Leisure Village Sports village development to replace EPIC leisure centre which was partly funded by Sport England was officially opened in May 2015 Ellesmere Port Central and the Public Services Hub (One Public Estate) A proposal for a new building linking in to the borough council s Civic Way offices to transform the way in which public services are provided. Along with residential development sites currently available the hub could release further land for redevelopment with the potential to deliver 2,500 new homes around the town centre and safeguard or create 2,000 jobs.

7 Cheshire West & Chester Property Review Ellesmere Port Top s Industrial Sector 07/11/15 07/12/15 4 Merseyton Rd Ellesmere Port 3,100 Effective The Fork Truck Company (NW) Ltd 07/12/15 Cheshire West & Chester Council Office Sector 01/04/15 01/08/15 Hooton Rd Ellesmere Port 2,456 Achieved Clearview Accountancy Ltd 01/08/15 Bizspace Ltd Retail Sector 01/08/15 01/08/15 Station Rd Ellesmere Port 6,267 JYSK UK Ltd 01/08/15

8 08 Cheshire West & Chester Property Review Mid Cheshire Barons Quay, Northwich 50M retail-led mixed use redevelopment on 25 acre site in Northwich to include a cinema, restaurants and main retail area which are on site and due for completion in Autumn Sequence 2 to be completed in Autumn Estimated to create up to 1,500 new jobs. Winsford Industrial Estate expansion Currently developing costed highway alignment options and undertaking site investigations. Infrastructure works, likely to cost 15M will be included as part of Winsford Transport Package with a view to opening up future employment land as part of the Northern Gateway Development Zone. (30 hectares) The Lion Salt Works 10.23M museum restoration. Winsford Development Framework The Winsford Development framework (2016) has been endorsed and published. It provides design and delivery guidance for specific sites in Winsford town centre which includes Winsford Cross Shopping Centre, Park, the old High Street, the Verdin Exchange, land at Road and open countryside to the north. 3.5m capital funding has been allocated to Winsford to unlock key growth opportunities.

9 Cheshire West & Chester Property Review Mid Cheshire s Industrial Sector 19/10/15 19/10/15 Road One Winsford 23,573 Asking Premier Image 19/10/15 CBRE Ltd 17/10/15 15/01/16 Leslie Rd Winsford 11,844 Asking Select Windows 15/01/16 Legat Owen (Incorporating Lamont) 01/02/16 10/03/16 Road One Winsford 4,889 Effective D. & A. Rigby 10/03/16 Legat Owen (Incorporating Lamont) Office Sector 15/08/15 15/08/15 Gadbrook Park Northwich 14,400 Asking Residential Management Group Ltd 23/11/15 Fifield Glyn Ltd 17/08/15 16/09/15 Gadbrook Rd Northwich 4,000 Effective Principia Law Ltd 16/09/15 Cheshire West & Chester Council 01/04/15 01/04/15 Rudheath Way Northwich 2,302 Asking 01/04/15 Fifield Glyn Ltd 15/05/15 17/06/15 Total Winnington St Northwich 2,265 Effective Physiotherapy Ltd 17/06/15 Meller Braggins Ltd, Williams Sillitoe Commercial Retail Sector 01/07/15 01/07/15 Old Warrington Rd Northwich 12,407 Asking 01/07/15 Johnson Fellows 09/11/15 08/01/ Leicester St Northwich 5,472 08/01/16 Mason Owen & Partners 27/11/15 27/12/15 Delamere St Winsford 2,000 Asking Subway 27/12/15 28/10/15 28/10/15 32 High St Northwich 1,350 Effective Retro's Music 28/10/15 Fifield Glyn Ltd Property reinvestment programme Road Three, Winsford Industrial Estate Jupiter Drive, Sealand Road Industrial Estate Land at Sealand Road Technoprint Big Storage Land Rover

10 10 Cheshire West & Chester Property Review Rural West Cheshire LEADER Programme Cheshire & Warrington EU funding secured for programming period West Cheshire and Warrington awarded 1.537M. Aldi Supermarket Supermarket giant Aldi expanded its distribution hub in Neston, which serves Cheshire, Liverpool, western coastal areas and North Wales. The new 35,349 sq ft freezer extension boosts the overall size of the site to 439,275 sq ft. and created additional employment opportunities onsite. Cheshire Ice Cream Farm Attracting over 800,000 visitors a year, Cheshire Farm Real Dairy Ice Cream invested over 4m in their site. The redevelopment included a larger Ice Cream Parlour and themed play equipment, farm animal paddocks and specially constructed digger and racetrack areas for children. Chowley Oak Business Park There was continued expansion at Chowley Oak Business Park including Cheshire Equine Clinic, a purpose-built facility offering primary veterinary care. The clinic also supports surgical, stud and reproductive services. Nearby, new horse racing facility established on the site of a former farm in Harthhill, Tattenhall. The facilities include 5 furlong grass gallops, 5 furlong all weather gallops, 50 acre turnout land, 35 stables, indoor arena and schooling area, manned by an experienced trainer and staff. Connecting Cheshire Connecting Cheshire has now reached over 90% of Cheshire, Warrington and Halton with superfast broadband coverage, aiming to achieve 99% coverage by 2020.

11 Cheshire West & Chester Property Review Cheshire West and Chester Council property deals Top 5 Lettings Property Description Lease Langdale House, Gadbrook Business Centre Northwich 5,000 sq ft two storey detached office building 5 year lease Bowland House, Gadbrook Business Centre Northwich 4,000 single storey detached office building new 3 year lease Unit 11, Hartford Business Centre Northwich 1,000 sq ft industrial unit 62 Milton Road Ellesmere Port 5,000 sq ft two storey detached office building 67 Kingsway Chester shop premises vacant for 4 years 1 year lease 5 year lease 10 year lease Top 13 Investment Sales Size sq ft Property Property Name Postcode 195,287 Herons Way (11 Properties) N/A Carbon Portfolio N/A 183,119 Station Rd Chester Royal Mail CH1 3AA 36,623 35,360 31,162 Road Five Winsford Winsford Industrial Estate Denton Rd Northwich J & S Accessories Tarporley Rd Northwich Nunsmere Hall Country House Hotel CW7 3RB CW9 7TT CW8 2ES 26,623 Stadium Way Chester Matalan CH1 4PZ 25,651 21,384 19,245 Bumpers Ln (3 Properties) Chester Chester Trade Park Heath Ln Ellesmere Port Brook Meadow Hotel Burnell Rd Ellesmere Port Thornton Road Ind. Estate CH1 4LT CH66 7NS CH65 5EX 13,000 Telford Rd Ellesmere Port Thornton Road Ind. Estate CH65 5DE 10,875 Gadbrook Park Northwich The Stables CW9 7RA 9,674 9,474 Dock St Ellesmere Port Century House Chester Way Northwich Dane House CH65 4DH CW9 5JG

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