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Property ReviewCheshire West & Chester

2015-2016

Cheshire West & Chester Property Review 2015-201602

Cheshire West & Chester Property Review 2015-2016 03

Introduction

This report highlights a significant number of investments and progress inthe major schemes across the borough. Across Cheshire West and Chester,investment and development continued to be healthy within the 12months to April 2016.

A number of key investors have committed toexpansion or relocation within the Borough anda healthy pipeline of enquries exists across retail,industrial and office sectors.

A significant number of opportunties offeringinvestment potential have come to fruitionincluding the award of Enterpise Zone status acrossEllesmere Port and the development of theNorthern Gateway Development Zone in MidCheshire to maximise economic opportunitieslinked to HS2.

Commencement of work on the Chester BusInterchange and the completion of the newStoryhouse cultural centre form part of thetransformational plans for Chester as part of theNorthgate development

The Council embarked upon a proactive Propertyre-investment programme liquidating assets torelease capital for new developments across anumber of key sites within Chester, Ellesmere Portand Winsford. Supported by European funding,further plans were submitted to develop a numberof new industrial units; work will commenceduring 2016.

A refresh of the Council’s Economic GrowthStrategy was undertaken to review and prioritisemajor projects across the four key programmeareas and embed wider issues influencing growthin the area including skills provision, businesssupport, transport infrastructure and funding.

04 Cheshire West & Chester Property Review 2015-2016

Chester

Bus InterchangeWork started on the main building which is due forcompletion 2016/17. The £14m investment willimprove pedestrian linkages to the Northgatedevelopment.

Frodsham Street Forming the gateway to the city from the new businterchange, public realm improvements willinclude wider pavements, better pedestrian accessand seating.

Chester Cultural Centre Name for theatre complex announced asStoryhouse. The £37m cultural centre is on site asof spring 2016 and is due to open in spring 2017.

Central Business Quarter(City Place)70,000 sq ft BREEAM excellent Grade A officespace now complete and space planning withfuture occupants. Accompanying public realmdevelopment at The Carriage Shed opening onschedule in summer 2016.

07/05/15

Signdate

07/05/15

Startdate

River Ln

Address

Chester

Town

16,500

Sq ft

Asking

Rent

Undisclosed

Tenant

New

Dealtype

07/05/15

Move-indate

Beresford Adams Commercial Ltd

15/01/16 01/06/16 Bumpers Ln Chester 12,500 Asking Undisclosed New 01/06/16Bolton Birch, Legat Owen

(Incorporating Lamont)

15/01/16 01/06/16 Bumpers Ln Chester 14,000 Asking Undisclosed New 01/06/16Bolton Birch, Legat Owen


Agent

Chester Deals


Industrial Sector

01/11/15

Signdate

01/12/15

Startdate

Vicars Lane

Address

Chester

Town

4,864

Sq ft

Asking

Rent

Undisclosed

Tenant

New

Dealtype

01/12/15

Move-indate

Beresford Adams Commercial Ltd

01/10/15 01/10/15 Crook St Chester 3,353 Asking Undisclosed New 01/10/15 Beresford Adams Commercial Ltd

01/11/15 01/11/15 Honeycomb Chester 4,510 AskingDeepbridge

Capital New 01/11/15 Undisclosed

01/11/15 01/11/15 Steam Mill St Chester 3,165 Asking Undisclosed New 01/11/15Legat Owen


Agent

Office Sector

23/04/15

Signdate

23/04/15

Startdate

St Michaels

Address

Chester

Town

23,000

Sq ft

Undisclosed

Rent

TK Maxx

Tenant

New

Dealtype

23/04/15

Move-indate

Undisclosed

23/04/15 23/04/15 St Michaels Chester 16,500 Undisclosed Sports Direct New 23/04/15 Undisclosed

01/05/15 01/05/1511-13

Eastgate StChester 9,726 Achieved Fat Face New 22/06/16

Jupiter Drive, Sealand Road Industrial Estate Big Storage

Land at Sealand Road Land Rover

Wild Commercial Property Ltd

01/03/16 01/03/16 Sealand Rd Chester 12,250 UndisclosedWren

KitchensNew 19/04/16 Cushman & Wakefield

11/01/16 11/03/16 Bumpers Ln Chester 9,673 Effective Inchcape plc New 11/03/16Legat Owen


Agent

Retail Sector

Property reinvestment programme


Ellesmere Port

Cheshire Science CorridorEnterprise ZoneWill allow new investors to benefit from enhancedcapital allowances in Ellesmere Port and at theThornton Science Park.

Ellesmere Port GatewaysEnvironmental upgrading to Ellesmere Port StationGateway and improved cycle and pedestrian accessalong Whitby Road/Station Road

£1.29M Stanney Lane BoulevardA new shared surface boulevard linking the towncentre with Cheshire Oaks has been completed

Ralph Lauren Polo14,000 sq ft flagship store opened at Cheshire OaksNovember 2015

Paradise Island adventure golf 13,000 leisure park opened December 2015

£15M Ellesmere Port Sports &Leisure VillageNew Sports village development to replace EPICleisure centre which was partly funded by SportEngland was officially opened in May 2015

Ellesmere Port Central and thePublic Services Hub (One PublicEstate)A proposal for a new building linking in to theborough council’s Civic Way offices to transformthe way in which public services are provided.Along with residential development sites currentlyavailable the hub could release further land for re-development with the potential to deliver 2,500new homes around the town centre and safeguardor create 2,000 jobs.

07/11/15

Signdate

07/12/15

Startdate

4 MerseytonRd

Address

EllesmerePort

Town

3,100

Sq ft

Effective

Rent

The ForkTruck

Company(NW) Ltd

Tenant

New

Dealtype

07/12/15

Move-indate

Cheshire West & Chester Council

Agent

Ellesmere Port Top Deals


Industrial Sector

01/04/15

Signdate

01/08/15

Startdate

Hooton Rd

Address

EllesmerePort

Town

2,456

Sq ft

Achieved

Rent

ClearviewAccountancy

Ltd

Tenant

New

Dealtype

01/08/15

Move-indate

Bizspace Ltd

Agent

Office Sector

01/08/15

Signdate

01/08/15

Startdate

Station Rd

Address

EllesmerePort

Town

6,267

Sq ft

Undisclosed

Rent

JYSK UK Ltd

Tenant

New

Dealtype

01/08/15

Move-indate

Undisclosed

Agent

Retail Sector


Mid Cheshire

Winsford Industrial EstateexpansionCurrently developing costed highway alignmentoptions and undertaking site investigations.Infrastructure works, likely to cost £15M will beincluded as part of Winsford Transport Packagewith a view to opening up future employment landas part of the Northern Gateway DevelopmentZone. (30 hectares)

Winsford DevelopmentFrameworkThe Winsford Development framework (2016) hasbeen endorsed and published. It provides designand delivery guidance for specific sites in Winsfordtown centre which includes Winsford CrossShopping Centre, Town Park, the old High Street,the Verdin Exchange, land at New Road and opencountryside to the north. £3.5m capital funding hasbeen allocated to Winsford to unlock key growthopportunities.

The Lion Salt Works£10.23M museum restoration.

Barons Quay, Northwich£50M retail-led mixed use redevelopment on 25acre site in Northwich to include a cinema,restaurants and main retail area which are on siteand due for completion in Autumn 2016. Sequence2 to be completed in Autumn 2017. Estimated tocreate up to 1,500 new jobs.

19/10/15

Signdate

19/10/15

Startdate

Road One

Address

Winsford

Town

23,573

Sq ft

Asking

Rent

PremierImage

Tenant

New

Dealtype

19/10/15

Move-indate

CBRE Ltd

01/02/16 10/03/16 Road One Winsford 4,889 Effective D. & A. Rigby New 10/03/16 Legat Owen (Incorporating Lamont)

17/10/15 15/01/16 Leslie Rd Winsford 11,844 AskingSelect

WindowsNew 15/01/16 Legat Owen (Incorporating Lamont)

Agent

Mid Cheshire Deals


Industrial Sector

15/08/15

Signdate

15/08/15

Startdate

GadbrookPark

Address

Northwich

Town

14,400

Sq ft

Asking

Rent

ResidentialManagement

Group Ltd

Tenant

New

Dealtype

23/11/15

Move-indate

Fifield Glyn Ltd

01/04/15 01/04/15Rudheath

WayNorthwich 2,302 Asking Undisclosed New 01/04/15 Fifield Glyn Ltd

17/08/15 16/09/15 Gadbrook Rd Northwich 4,000 EffectivePrincipiaLaw Ltd

New 16/09/15 Cheshire West & Chester Council

15/05/15 17/06/1517-19

Winnington StNorthwich 2,265 Effective

TotalPhysiotherapy

LtdNew 17/06/15

Meller Braggins Ltd, WilliamsSillitoe Commercial

Agent

Office Sector

01/07/15

Signdate

01/07/15

Startdate

OldWarrington

Rd

Address

Northwich

Town

12,407

Sq ft

Asking

Rent

Undisclosed

Tenant

New

Dealtype

01/07/15

Move-indate

Johnson Fellows

27/11/15 27/12/15 Delamere St Winsford 2,000 Asking Subway New 27/12/15

09/11/15 08/01/1611-13

Leicester StNorthwich 5,472 Undisclosed Undisclosed New 08/01/16 Mason Owen & Partners

28/10/15 28/10/15 32 High St Northwich 1,350 Effective Retro's Music New 28/10/15 Fifield Glyn Ltd

Agent

Retail Sector

Road Three, Winsford Industrial Estate Technoprint

Land at Sealand Road Land Rover

Jupiter Drive, Sealand Road Industrial Estate Big Storage

Property reinvestment programme


Rural West Cheshire

LEADER ProgrammeCheshire & WarringtonEU funding secured for programming period2015 – 2020. West Cheshire and Warringtonawarded £1.537M.

Aldi SupermarketSupermarket giant Aldi expanded its distributionhub in Neston, which serves Cheshire, Liverpool,western coastal areas and North Wales. The new35,349 sq ft freezer extension boosts the overallsize of the site to 439,275 sq ft. and createdadditional employment opportunities onsite.

Cheshire Ice Cream FarmAttracting over 800,000 visitors a year, CheshireFarm Real Dairy Ice Cream invested over £4m intheir site. The redevelopment included a larger IceCream Parlour and themed play equipment, farmanimal paddocks and specially constructed diggerand racetrack areas for children.

Chowley Oak Business ParkThere was continued expansion at Chowley OakBusiness Park including Cheshire Equine Clinic, apurpose-built facility offering primary veterinarycare. The clinic also supports surgical, stud andreproductive services.

Nearby, new horse racing facility established on thesite of a former farm in Harthhill, Tattenhall. Thefacilities include 5 furlong grass gallops, 5 furlongall weather gallops, 50 acre turnout land, 35stables, indoor arena and schooling area, mannedby an experienced trainer and staff.

Connecting CheshireConnecting Cheshire has now reached over 90%of Cheshire, Warrington and Halton with superfastbroadband coverage, aiming to achieve 99%coverage by 2020.

Langdale House, Gadbrook Business Centre

Property Address

Northwich

Town

5,000 sq ft two storey detached office building

Description

Unit 11, Hartford Business Centre Northwich 1,000 sq ft industrial unit

New Bowland House,Gadbrook Business Centre

Northwich 4,000 single storey detached office building

5 year lease

Lease

1 year lease

new 3 year lease

62 Milton Road Ellesmere Port 5,000 sq ft two storey detached office building

67 Kingsway Chester shop premises vacant for 4 years

5 year lease

10 year lease

Cheshire West and ChesterCouncil property deals


Top 5 Lettings

Herons Way (11 Properties)

Property Address

N/A

Town

Carbon Portfolio

Property Name

Road Five Winsford Winsford Industrial Estate

Station Rd Chester Royal Mail

N/A

Postcode

CW7 3RB

CH1 3AA

Denton Rd Northwich J & S Accessories

Tarporley Rd Northwich Nunsmere Hall Country House Hotel

CW9 7TT

CW8 2ES

Stadium Way Chester Matalan

Bumpers Ln (3 Properties) Chester Chester Trade Park

CH1 4PZ

CH1 4LT

Heath Ln Ellesmere Port Brook Meadow Hotel

Burnell Rd Ellesmere Port Thornton Road Ind. Estate

CH66 7NS

CH65 5EX

Telford Rd

195,287

Size sq ft

36,623

183,119

35,360

31,162

26,623

25,651

21,384

19,245

Gadbrook Park Northwich The Stables CW9 7RA

Dock St Ellesmere Port Century House

Chester Way Northwich Dane House

CH65 4DH

CW9 5JG

10,875

9,674

9,474

13,000 Ellesmere Port Thornton Road Ind. Estate CH65 5DE

Top 13 Investment Sales

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