Bootle Factory Handed Over

Redsun Developments has completed the 170,000 sq ft manufacturing facility at Senate Business Park, Bootle, built for Domino Printing Sciences.

The developer acquired the 11-acre Senate Business Park site from Sefton Council in January 2016, having agreed a 25-year lease with Domino. The development has been sold for an undisclosed sum to funds advised by Swiss-based Global Gate Capital as part of a forward-funding transaction.

The main contractor on the development was Eric Wright Construction and the project team included Fletcher Rae Architects, C4 Consulting, Muir Associates, and D&d Consulting. Eric Wright is currently engaged on fit-out.

Craig Booton, director of Redsun Developments, said: “The building looks fantastic and is a testament to the design and construction team. Domino are making a further significant investment into the facility, illustrating their commitment to the Liverpool city region.

“Aside from the jobs that will be created as a result of this development we have delivered a real step-up in quality of building for the local area and it will be a key marker for future developments.”

Rudy Sayegh, chief executive of Global Gate Capital: “It was a pleasure to have transacted with the team at Redsun Developments as we look to grow our UK portfolio of high quality, strategically located assets.

This acquisition represents our third forward-funding and fourth transaction in the UK in the last two years. We remain committed to the UK and continue to see attractive real estate opportunities.”

Redsun was advised by B8 Real Estate with Global Gate Capital being represented by Taylor Wessing and DTRE.

Pallet-Track chooses Ashton for the first North West Unit

B8 Real Estate has let a 63,000 sq ft warehouse in South Lancashire Industrial Estate to Pallet-Track, on a 10-year lease at £5.17/sq ft.

The unit at the Ashton estate is secondary stock which was refurbished by M7 following the lease expiry of the previous tenant.

Pallet-Track was founded in 2004 in Wednesbury near Staffordshire, before relocating to a 267,000 sq ft Central Hub in Wolverhampton in 2008. The 63,000 sq ft unit in Lancashire represents the business’s first in the region and is a part of its plans to expand across the UK.

Jon Thorne Partner at B8 Real Estate, said: “The comprehensive refurbishment and improvement of the asset has repositioned it in the market to meet the demands of logistics operators. B8 Real Estate commenced marketing when the refurbishment started in January this year and the letting to Pallet-Track crystallises a 55% uplift against the previous rent demonstrating the strong demand for this type of quality product and the continuing rental growth in the region.”

B8 Real Estate acted for M7 Real Estate.