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Property Report Reveals Strong Investment Figures in Cheshire

The Cheshire Property Report, published and shared at an event attended by over 100 of the region’s property industry leaders, revealed growth and investment opportunities across the county. In Cheshire East figures were on the rise, an area now listed as one of only three locations outside of London in the top 20 hot spots for new businesses being created. The planned new development at Cheshire Green Employment Park near Nantwich will continue to support the industrial economy having the capacity to deliver up to 135,000 sqm of floorspace. The Local Plan for Cheshire East aims to deliver at least 27,000 homes and 20,000 extra jobs by 2031.

Among the speakers at the event were Chris Roberts, Development Director of the event host’s Bruntwood and owners of the Booths Park estate, which has recently been given the go-ahead for a further 17,822 sq m (net) of commercial space. This application to double the size of Booths Park also suggests that the sector is picking up confidence. Chris spoke to an audience of 150 delegates about plans for expansion at Booths Park, following the success of the scheme as a location for a number of high-quality knowledge-led industries, as well as the recent joint acquisition with MSP of Alderley Park, AstraZeneca’s 400 acre, global R&D site, further increasing investment in Cheshire.

Edmundson Electric’s purchase of the long-leasehold interest of their 2,269 sqm headquarters from Bruntwood (the Tatton Estate being the freeholder) for £3.35m was also a major vote of confidence for Knutsford Town Centre.

Chris was joined by Henry Brooks from Tatton Estate Management, who outlined the company’s vision for Cheshire and Warrington, Clare Oliver from Mersey Forest, Gemma Davies Senior Manager Economic Growth at CWAC Council and John Willis from Cheshire East Council’s Business Engagement and Inward Investment Service.

Vince Sandwell from BE Group gave a review of the region’s stand-out deals and highlighted future sites coming up for the area.

Macclesfield has recently seen the largest office transaction when property investment company, Eskmuir Group added to its property portfolio by purchasing 36 Castle Street from Nationwide Building Society. Leisure investments in the town also include the £90 million Silk Street scheme, forthcoming residence of a number of restaurants, bars, cinemas and shops, due to commence development with final land acquisitions being tied up.

Crewe has been a focus for leisure improvements with proposals for a Lifestyle Centre and a £5 million expansion of its cinema to double the size. The planned new development at Cheshire Green Employment Park near Nantwich will continue to support the industrial economy having the capacity to deliver up to 135,000 sqm of floor space.

Investment progress news came from the tourism sector as Chester Zoo and Tatton Park, recognised to be the best performing attractions within the sub-region, and both are pursuing further investment plans with Chester Zoo’s £30million Islands project on time for opening in Spring 2015.

Crewe has been a focus for leisure improvements with proposals for a Lifestyle Centre and a £5 million expansion of its cinema to double the size. The planned new development at Cheshire Green Employment Park near Nantwich will continue to support the industrial economy having the capacity to deliver up to 135,000 sqm of floor space.

Investment progress news came from the tourism sector as Chester Zoo and Tatton Park, recognised to be the best performing attractions within the sub-region, and both are pursuing further investment plans with Chester Zoo’s £30million Islands project on time for opening in Spring 2015.

During the event organised by Marketing Cheshire, The Cheshire and Warrington Enterprise Partnership revealed 11 strategic locations with the potential to attract inward investment in the sub-region, to be promoted as nationally significant development opportunities. As part of the strategy for the coming decade the LEP will promote 30,000 new jobs as part of a £30 billion economy. These include in Cheshire East (Midpoint 18, Basford, Capricorn Business Park), and three in Cheshire West and Chester (Hooton Park, Chester Central Business Quarter, New Bridge Road).

In retail the CH1 Chester Bid Company, if successful in their June vote, could help to draw in £2.5 million of private sector investment over a five year period in Chester city centre. Also in Chester the £300 million Northgate scheme is in progress as well as a library and theatre scheme on the adjacent Odeon site.

Residential developments include 98 new planning permissions in the first half of 2013/14 alone equating to a potential net gain of 1,068 new dwellings granted by Cheshire West and Chester Council.

It was also noted that new telecoms infrastructure will only support such growth as it is set to bring high speed broadband to 96 percent of Warrington and Cheshire over the next 12 months and, it is expected, to 99 percent by 2017.

Nicholas Brown, Head of Partnerships at Marketing Cheshire said: “Reviews such as these prove vital in highlighting the strength of the region’s growth, investment, and future developments and to gather people together to help facilitate those opportunities.”

This was posted in Bdaily's Members' News section by Laura Young .