St Helens’ Mere Grange Business Park sold in multi-million pound deal

Real estate investment and management firm Network Space has sold Mere Grange Business Park in St Helens for £4.85m.

Property services giant CBRE secured the deal with investor Squarestone on behalf of Cheshire-headquartered Network Space.

Located in the Leaside area, Mere Grange comprises 46,527 sq ft of office space over 10 two-storey detached and semi-detached properties.

The site is currently let to over 10 businesses, including Gleeson Developments Limited, Titan Distributions (UK) Limited and Portico Day Nurseries Limited.

Work is underway on 90,000 sq ft of industrial space across four units at Mere Grange. The expansion is expected to bring up to 300 jobs to Leaside when complete in June.

A residential scheme of up to 120 units is also planned.

Rob Woods director of CBRE’s Manchester-based capital markets team, said: “We are pleased to confirm the sale of Mere Grange to Squarestone.

“The development is situated in a highly successful business park location and comes with excellent opportunities to further enhance value.”

He continued: “The planned industrial and residential developments will have a positive impact on the business park as well as creating new jobs for the area and once complete, it will add further vitality to the scheme.”

Squarestone is based in London and Edinburgh.

The firm was represented in the deal by Cushman & Wakefield.