Developer Redsun Projects starts work on a multi-million pound 70,000 sq ft mixed-used development at a Wirral retail park. Tony McDonough reports
Redsun Projects has started work on a 70,000 sq ft mixed-use development at the Croft Retail Park in Bromborough.
Funded by a £5.2m loan from Merseyside Pension Fund, the scheme will comprise two drive-through cafes / restaurants to be delivered by Gastronomy Food UK, four trade counter units and a self-storage facility which is being sold to LokNStore.
Caddick Construction has started work on-site and the first phase is due to be completed by June next year. A further phase of development will come forward at a later date. The project was first reported by LBN in January.
Redsun director Nick Wightman said: “Merseyside Pension Fund’s commitment to our project has enabled us to get under way with the delivery of this scheme.
“This is one of the most prominent development sites on the Wirral so we’re very pleased to be bringing this forward. We have strong early interest in the remaining available units and have received a number of enquiries for the future phase on a build to suit basis.”
Project team for the development includes Fletcher Rae (architects), Langton Development Services (PM), Link Engineering (engineering), KGA (M&E).
Merseyside Pension Fund chair, Cllr Julie McManus, added: “Merseyside Pension Fund is committed to enhancing regeneration, development and local employment opportunities as well as facilitating commercial returns at prudent risks for our members.
“This latest Catalyst Fund loan is a testament to that. We’re delighted to have provided a loan for this development, which closely aligns with the fund criteria.”
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B8 and Legat Owen are joint letting agents for the scheme. Gastonomy Foods and LokNStore represented themselves. CBRE is the retained adviser for Merseyside Pension Fund.
Located off the A41 New Chester Road, the Croft retail and leisure park already comprise 450,000 sq ft of space. Brands include Asda, M&S Food, H&M, Next Halfords and Sports Direct.
It also includes an Odeon Cinema, Nando’s, KFC, McDonald’s, Costa Coffee, Pure Gym and Buzz Bingo.