Total Developments has completed the acquisition of the final three-acre development plot from Northwood at Orion Park on University Way, Crewe.
The deal ties in with the government’s announcement this week that the Crewe to Birmingham HS2 rail link will open six years earlier than planned.
The purchase follows on from Total’s completion of the nine-unit speculatively built 70,000 sq ft scheme of industrial accommodation which has now been fully let and achieved headline rentals.
Edward Chantler, Total Developments, says: “We see Crewe, like so many key towns of the North West, lacking new and high specification units for SMEs.
“Orion Park offers the rare opportunity to create space to cater for the lack of supply and pent up demand.”
Total Developments will submit a planning application for the construction of two buildings providing space from 12,000 – 30,000 sq ft and a standalone two-storey office building on University Way.
Matthew Pochin, director of commercial property agency at Legat Owen, says: “The resilience the town of Crewe showed throughout the downturn and the way it has since pushed forward into growth has to be one of the highlights of the North West market.
“The news that HS2 will open by 2027 will bring further investment to the area as businesses look to relocate and take advantage of the new infrastructure.
“The town has already seen one of the first speculative schemes completed and successfully let, which has led to improved confidence in the market, confidence which Total has shown in acquiring the last available spot for development in the town.”
The land for Orion Park was formerly owned by The Duchy of Lancaster and was released to the market in early 2000 following completion of the first phase of the new Crewe Green Link Road.
The second phase of the Link Road completed this month, providing improved traffic flow to junction 16 of the M6 motorway along with improved general infrastructure for the town itself.
Northwood was represented by Legat Owen and Bilfinger GVA while Total Developments was unrepresented; the site was bought for an undisclosed sum.