Constructed on behalf of global investors Infrared Capital Partners, Central 23, provides a single 23,500 sq ft industrial unit and is part of a wider £93m northern portfolio. Tony McDonough reports
Developer Network Space has completed a multi-million pound industrial scheme close to Liverpool city centre.
Constructed on behalf of global investors Infrared Capital Partners, the 1.75-acre brownfield site, called Central 23, provides a single 23,500 sq ft industrial unit with office provision, car parking and yard space.
Central 23 is located off the junction with the A5038 Vauxhall Road and Leeds Street, adjacent to the Liverpool’s new Ten Streets development district and is also close to Peel’s £5bn Liverpool Waters scheme.
Upon completion of Central 23, its ownership transferred to InfraRed Capital Partners which acquired the site as part of a wider portfolio in a £93m deal with Network Space in 2018. Network Space Senior development manager, Catherine Chilvers, said: “Provision of prominent and accessible industrial warehouse space of this size and quality, so close to the city centre is a rarity.
“The scheme’s position on the fringe of the city centre means the development is perfectly placed to appeal to a wide range of businesses and urban logistic operators who require access into the city and wider conurbation.”
The portfolio acquired by Infrared includes sites in Liverpool, Manchester Leeds and Sheffield and comprises 1.4m sq ft in 32 urban logistics assets with construction having started on an additional two multi-let industrial estates.
Dean Harrison, investment director at Infrared, added: “Since 2018, the portfolio has been materially expanded through a selective acquisition strategy targeting last mile delivery occupiers.”
Construction partners on Central 23 were Caddick Construction, architectural and engineering services were provided by WYG, with quantity surveyors Walker Sime.
Agents for the scheme are CBRE and DTRE.