May 21, 2019

£8m industrial scheme completes at Alchemy Business Park in Knowsley

Element, the £8m second phase of development at Network Space’s Alchemy Business Park in Knowsley, has completed.

Totalling 103,500 sq ft, the speculative scheme benefits from direct access from the A580 and comprises three highly specified industrial warehouse units of 22,900 sq ft, 35,200 sqft and 45,450 sq ft. The units have each been designed to appeal to a wide range of logistics and industrial occupiers and feature generous self-contained yards, office and car park provision, separated office and yard access with 10m eave heights and dock level access provision on the two larger units.   

The scheme has been supported by a £1.8m Local Growth Fund grant.  Local Growth Funding is awarded to the Liverpool City Region Local Enterprise Partnership (LEP) and invested through the Liverpool City Region Combined Authority’s Strategic Investment Fund.

There is currently strong interest from prospective occupiers, and it is anticipated that once let, the units at Element could accommodate up to 250 jobs and produce a net additional GVA per annum of £9.90m for the region.

Stephen Barnes, Managing Director (Development) at Network Space, said: “This is Network Space’s fourth self-financed scheme to complete within the last 12 months, taking the total space delivered within that period to just under 400,000 sq ft across 14 units.

“Within that same period, we have already let nearly 60% of the space and have good prospects for the remaining units. There remains a shortage of industrial warehouse space across the region and this coupled with the prominence, accessibility, quality and presentation of this scheme makes Element a compelling prospect for future occupiers.”  

Steve Rotheram, Metro Mayor of the Liverpool City Region, said: “We are working hard to make sure that economic growth benefits Knowsley and everyone in our city region, which is why we have backed this scheme which could potentially create hundreds of jobs and boost the local economy by around £10m a year.  I’m pleased to see the latest phase completed and I look forward to seeing the whole development thriving.”

Dale Milburn, Knowsley Council’s Executive Director for Regeneration and Economic Development, added: “Element offers a prime location in Knowsley and enjoys exceptional transport links.  This latest speculative development demonstrates the high level of confidence that developers have in Knowsley as a place to invest and do business.”

Caddick Construction was the appointed contractor for the project following its successful completions of Network Space schemes in St Helens and Stoke.

B8 and CBRE are the appointed agents for the scheme and both have reported encouraging interest from a range of prospective occupiers.