The North West
Solid Demand prompts speculative new build development 2
018 has seen increased levels of development activity in Cumbria particularly around J44 of the M6 at Carlisle reports Richard Percival, Director of Carlisle based chartered surveyors & property consultants Carigiet Cowen.
Richard Percival
At the Carlisle Kingmoor Park Enterprise Zone construction of a new 40,000 sq ft Mercedes Benz dealership fronting the A689(w) Bypass is at an advanced stage the steel work is up, roof and wall cladding on and internal fitout going on.
Richard is Kingmoor Park Properties’ sole agent and he points to strong levels of good quality enquiries evidenced by a number of substantial transactions he has handled this year including:
• The letting of Unit A KP Central, extending to over 47,000 sqft of warehouse space to national food manufacturing firm 2Sisters Food Group ( Cavaghan + Gray ) to aid their expansion plans in the city.
• The letting of 38,800 sqft of modern high bay warehouse space at KP North to a logistics operator.
• The sale of detached new build warehouse of 7,500 sqft at KP Central
•
The letting of a production facility of over 60,000 sqft to a rapidly expanding Carlisle based engineering business
There are also 5 separate land sales moving through the legal process at present which will bring a variety of different end users to Kingmoor Park in due course.
To meet some of the demand for smaller modern units Kingmoor Park’s latest multi-million pound development, supported by ERDF funding, began in May this year when estate owner Brian Scowcroft cut the first sod for the construction of up to 19 new Business Units designed to accommodate SMEs and growing businesses. These are the first speculatively built business units at Kingmoor Park or elsewhere in north Cumbria since before the global economic downturn in 2008. The development, on plots N and R at Kingmoor
Park Central will provide a range of unit sizes from 1,550 sqft to 4,360 sqft although units can be combined to create large floor plates subject to availability. All will be constructed to achieve a BREEAM “very good” environmental rating
The units will be located within an area of the Carlisle Kingmoor Park Enterprise Zone where qualifying occupiers can benefit from 100% Business Rates Relief worth a maximum of £275,000 over a 5 year period. The new units will be ready for occupation by November 2018.
Also, at the northern end of the city, Carigiet Cowen have been working closely with Chancerygate in marketing 2 prime developments sites on behalf of Carlisle City Council. Site 1 at Chandler Way, Parkhouse is under offer to a single end user whilst a scheme to bring forward a bulky goods retail warehouse development on the Gateway 44 site is at an advanced stage with a number of occupiers already committed.
At the nearby Kingstown industrial estate Richard and agency colleague Mike Beales have agreed terms for the sale of the prominently located former Unipart building comprising almost 6,000 sqft of showroom/trade counter space.
Richard concludes, “We have seen good levels of take up over the last 12 months across a range of property types. I am pleased that we also are securing new stock to bring to the market to replace the properties we have sold or let. Ultimately having our board on every property across Cumbria for months on end is not the aim, our goal is to conclude transactions on and off the market to our clients satisfaction in a professional and timely manner.
For further information on any of the properties Carigiet Cowen are marketing or details of the range of services they offer please visit
www.carigietcowen.co.uk or contact Richard Percival on 01228 635006 /
rpercival@carigietcowen.co.uk
74 COMMERCIAL PROPERTY MONTHLY 2018
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