Chancerygate has awarded a €11.9m (£10.5m) contract to Caddick Construction for development of phase one of Novus business park in Knutsford, Cheshire. Caddick’s appointment represents the largest construction contract that Chancerygate has awarded in its nearly 25-year history. At 244,000ft² in total, Novus is currently the developer’s biggest scheme and is being led by the company’s Warrington office. Once complete, Novus will provide high-specification industrial and warehouse space across 16 acres. The scheme has a gross development value of around €37.4m (£33m) and is expected to create up to 700 jobs.
Phase one will see the speculative development of nine industrial and warehouse units totalling 132,000ft², ranging in size from 4,100ft² to 25,000ft². The units are available freehold or leasehold. Chancerygate is also funding and building significant highway improvements including a new roundabout. Construction is set to start immediately, with phase one scheduled to complete in September 2020.
One of the units totalling 30,000ft² will be occupied by prestige auto retailer Sytner Group on a long-term lease for pre-delivery inspection and vehicle servicing for clients such as McLaren, Bentley, Rolls Royce and Land Rover. Another unit in phase one is formally under offer.
Chancerygate development director and head of the company’s Warrington office, Mike Walker, said: “Novus is our flagship development in the North West and working alongside Caddick we start construction with real momentum. The recent deal with Sytner demonstrates our ability to secure strategic locations and deliver an excellent standard of product. There is also significant interest in the remaining units from several potential occupiers. We are also committed to investing in the highways around the development to the benefit of all local businesses and residents. This combined with the potential 700 jobs we expect Novus to create means it will bring a significant boost to the local economy.”