Centric Property Group is investing heavily in commercial property in the North West. Towards the back end of 2010, Centric declared it was to open a new business park, housing serviced office space, in Roachdale, Greater Manchester.
It was today announced that the Manchester based company have acquired land at Estuary Commerce Park in the South Liverpool International Gateway. The 4.6 acre site, close to Liverpool Airport, was acquired from Liverpool Vision, acting on behalf of the North West Development Agency. The site was bought for around £1 million and paid for outright.
Centric are proposing to construct a £6 million speculative development of serviced offices and warehouse space, which will total over 82,000 sqft.
Centric were advised on the purchase by Liverpool based property agents, Mason Owen. Mark Coulthurst, of Mason Owen’s Business Premises team, declared: ‘In these difficult economic times it is a breath of fresh air to find somebody prepared to speculatively develop commercial property…This will be a major boost for the South Liverpool area and we are confident that the quality of the product will generate great demand in the area.’
The Liverpool development, set to be named, ‘The Estuary Banks,’ is to benefit from over £2.535 million of funding from the European Regional Development Fund (ERDF). It is hoped the development will target a range of occupiers including the bio-pharmaceutical and knowledge sectors.
This isn’t the only development that the ERDF is helping to finance in the North West. Managed by the Northwest Regional Development Agency, the ERDF is making a genuine difference to people and businesses in the region. With around €755 million to be invested between 2007 and 2013, ERDF is enhancing the competitiveness of the region’s economy by supporting growth in enterprise and employment during these austere times.
So, despite the future of the economy in the regions looking uncertain, Centric are doing all they can to lift the North West’s businesses from the gloom.
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