ALL the latest commercial property news from across the region.

CHESHIRE developer Pochin has started work on a 350,000 sq ft warehouse at Middlewich.

The speculative development, backed by Northridge Capital, will be one of the largest warehouses developed in the north west this year.

The site at Midpoint 18 is already home to big-name occupiers including Tesco and Wincanton.

The new building will be marketed to other distribution companies, stressing excellent transport links and proximity to the M6.

Pochin director Jim Nicholson said: "Developers must respond to current market conditions and cater to the larger requirements of distribution companies. We are delighted to be doing that with the new unit."

Lamonts and Matthews and Goodman are joint agents at the site.

ANOTHER 50,000 sq ft office scheme is to be developed at Birchwood, Warrington.

Seddon Developments, part of the Seddon Group, has announced plans to speculatively develop the office space at Birchwood One on Dewhurst Road.

Construction on the three-acre site is due to start this spring with completion of the first phase expected in October.

The scheme will specialise in small-scale accommodation for growing businesses, all of which will be available on freehold or leasehold options.

Jamie Seddon, of Seddon Developments, said: "There have been plans in place for this site for quite a while but, despite there being strong interest, nothing has been progressed.

Quality

"The number of inquiries in the Birchwood area is on the increase, but there is a distinct lack of quality accommodation for small and growing companies. By purchasing this site, we aim to redress this situation and are looking forward to bringing our grade A speculative accommodation to the market."

Units will range in size from 2,400 to 4,000 sq ft and are available.

Joint agents on the scheme are Warrington-based Business Environments and the Manchester office of King Sturge.

A MANCHESTER landlord has bought a Merseyside shopping centre in a é24m deal.

MCR Property has bought the recently-opened Cavendish Walk shopping centre in Huyton from Development Securities. The 100,000 sq ft shopping centre includes Wilkinsons and New Look.

Andy Philips, of MCR Property, said: "This centre represented a great opportunity for us. It will come to dominate the town and pull the rest of the retail core of Huyton towards it."

The purchase follows MCR's purchase last summer of the Hyde Shopping Centre.

FAIRCROFT Properties has completed the purchase of a 43,000 sq ft freehold vacant industrial unit for é2.11m at Stakehill Industrial Park, Middleton, Greater Manchester.

Since 1999 the company has been involved in excess of é100m of purchases across all sectors.

ACTING for Royal London, office agents at Lambert Smith Hampton has let 6,774 sq ft at the recently-refurbished Alderley House, on Alderley Road in Wilmslow, to J4B at a rental level of é13.50 sq ft on a 10-year lease. Sterling Insurance has taken 800 sq ft in the same building on flexible terms.

THE é2bn regeneration of East Manchester has been acclaimed as a good example to other cities.

Eminent urban regeneration guru Professor Michael Parkinson has praised the New East Manchester regeneration company, which is leading the project, as "a very good example of a truly comprehensive urban regeneration company".

The project aims to revive around 5,000 acres of east Manchester and has so far attracted an average of é200m per year in new investment.

Professor Parkinson's report highlights that hosting the Commonwealth Games, together with the city council prioritising east Manchester, has been critical to the success of the programme so far.

Success

East Manchester has added value to the economic success of the city centre over the past decade, he says.

Now in its sixth year, the urban regeneration company is on track to achieve its target of building 12,500 homes in its first 10 to 15 years.

In the first five years, it says, more than 3,000 jobs have been created or safeguarded, unemployment is down from 14.2 per cent to 5.7 per cent, and 500 local companies supported.

The area has two new primary schools, and two health clinics are near completion.

Projects highlighted in the report as examples of successful regeneration include Central Park, which will ultimately provide 1.4m sq ft of business space and generate up to 10,000 new jobs.

The report stated that "many of the key goals on site - acquisition, remediation and provision of a high quality business park with good maintenance arrangements - have been successfully achieved".

Tweet