Redsun completes Mersey scheme and secures two occupiers

Multi-million pound industrial scheme in Wirral was backed by Liverpool City Region Combined Authority and delivered by Redsun Projects with two occupiers now signed up. Tony McDonough reports

Redsun
Magazine Point, on Wirral International Business Park in Bromborough

 

Developer Redsun Projects says it has completed is multi-million pound industrial scheme in Wirral and has secured two new tenants for the site.

Magazine Point, on Wirral International Business Park in Bromborough, comprises 55,000 sq ft of light industrial space. Redsun has secured two lettings. Signage supplies distributor, MDP Supplies is taking 19,000 sq ft and medical diagnostics company MedTechToMarket  will occupy 12,000 sq ft.

These deals mean there there is now 24,000 sq ft of space remaining across four units. Magazine Point was one of three development sites in Merseyside to have received a share of £2.65m from the Liverpool City Region Combined Authority’s Light Industrial Fund. Debt funding for the scheme was provided by Lloyds Bank.

Nick Wightman, director at Redsun, said: “We have been hugely encouraged by the interest we have received, selling over half of the scheme prior to practical completion. The support from the Combined Authority has enabled us to meet occupier demand and support growing businesses in the area.

“This deal marks over 500,000 sq ft new commercial floorspace we have delivered in Bromborough to date, and we are actively seeking more sites for development.”

Magazine Point was designed by C4 Projects with Muir Associates acting as civil and structural engineers. Legat Owen and B8 are joint agents for the scheme.

Mark Bousfield, director of commercial development and investment at the Liverpool City Region Combined Authority, said: “Magazine Point is one of three sites across the city region where we’ve invested £2.65m to deliver the outstanding facilities that businesses need. It’s great to see businesses already signing up to take space – I’m sure it won’t be long before others follow.”

Launched in March 2019, the Light Industrial Fund is supported by the Local Growth Fund and was created to support speculative light industrial development within the Liverpool city region, to accommodate the needs of businesses that require modern commercial floorspace to expand and grow.

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