Property Group to Develop Properties Worth £6 Million in England

May 20, 2011 / Elizabeth Buckley, Commercial Property Analyst

Centric Property Group, asjfd, will be developing offices and warehouses valued at £6 million ($9.7 million) in Liverpool, England.

Property Group to Develop Properties Worth £6 Million in England

The offices and warehouses will be constructed in Estuary Commerce Park in the South Liverpool International Gateway, a 4.6 acre site situated near the Liverpool Airport, acquired by Centric from Liverpool Vision for £1.0 million ($1.6 million) without bank debt.

The construction of the development, named Estuary Banks, will begin this year and it will make use of sustainable technology to be installed by building contractor Barnfield Construction.

Estuary Commerce Park will be a Strategic Regional Site in the South Liverpool International Gateway, which is one of five strategic investment areas in Liverpool and has a significant economic importance not only to the City of Liverpool, but also to the wider Liverpool City sub region and North West England.

Mason Owen’s Business Premises Mark Coulthurst finds the project to be a major boost for the South Liverpool area and is confident that its quality will generate great demand in the area.

For him, it is a breath of fresh air to find someone who is prepared to speculatively develop commercial property during such a difficult economic situation.

The scheme is to benefit from an almost £2.535 million($4.1 million) funding from the European Regional Development Fund (ERDF) and the development will target occupiers ranging from the bio-pharmaceutical and knowledge sectors.

The ERDF is making a big difference to people and businesses in the Northwest by enhancing the competitiveness of the region’s economy through supporting its growth in enterprise and employment with its €755 million ($1.07 billion) to invest between 2007 and 2013.

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