Chancerygate and Hines have bought a 217,800 sq ft plot at Warrington’s Gemini8 to develop 100,000 sq ft of industrial space.
The scheme will provide 20 units, ranging in size from 3,500 sq ft to 12,000 sq ft, with both parties set to submit a request for planning permission for speculative development.
Gemini8 comprises 14 acres in total with prominent frontage to the M62 at junction 8. Occupiers include Athelis, Travelodge, Harvester, Starbucks, Subway, Frankie & Benny’s, and Marston’s The Skymaster. Other major occupiers on the wider Gemini area are Marks & Spencer and IKEA.
Mike Walker, director and head of the Warrington office at Chancerygate, said: “We have wanted to acquire a prime site in Warrington for a number of years because we are confident there is huge pent up demand for new, well-specified freehold units.”
The Gemini8 purchase is the sixth acquisition made by the Chancerygate and Hines joint-venture.
CBRE acted for Chancerygate on the acquisition and will be retained as joint sole agents with Davies Harrison.