Network Space Sells Prime Industrial Open Storage Site

27 March 2024

Network Space Sells Prime Industrial Open Storage Site

Industrial property specialist, Network Space Developments (NSD), has sold a prime 10-acre industrial site at its Alchemy Business Park site in Knowsley, Merseyside.

The site has been acquired by Marchmont Investment Management in a deal exceeding £7 million. The majority of the 10-acre site is leased to Amazon for fleet vehicle charging and storage, with Marchmont seeking to progress further open storage opportunities on the remaining four acres.

The deal marks the latest milestone at Alchemy Business Park, with NSD having previously delivered over 200,000 sq ft of industrial and logistics space across several phases at Platinum Court and Element. A further 150,000 sq ft of floor space across two units is also expected to receive planning consent imminently, with the units targeting BREEAM Excellent and available for pre-let or forward funding opportunities.

Simon Eaton, Senior Development Manager at Network Space, said: “We’re delighted to have completed another positive transaction at Alchemy Business Park, which further demonstrates the site’s high quality location and attractiveness to a wide range of occupiers and uses. The sale marks the culmination of the hard work that went into securing Amazon on site and we are confident that the remaining land will be attractive to other users.

“We now look forward to advancing our plans for the 2 new high quality and highly sustainable industrial units and continuing our long-running investment into Knowsley.

The site is located adjacent to the A580 just minutes from the M57. B8 Real Estate concluded the deal on behalf of Network Space.

Simon Wood, Investment Director at B8RE, commented: ‘Having recently agreed a lease to Amazon, the sale represents another successful exit for our client and is not only testament to the institutional interest in Knowsley and the scheme but also Network Space themselves as a developer. It was fantastic to be involved in another NSD sale working with parties to reach such a successful conclusion in what is still a challenging investment market.

Marchmoont were advised by Nick Carvey of Cushman Wakefield

About Network Space

Operating across the North of England, Network Space is a nationally recognised commercial property developer and investor specialising in the industrial warehouse sector. Founded in 1982, Network Space has created and modernised over 10 million sq ft of industrial warehouse property in over 150 locations.

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