Kingsway set for new 216,000 sq ft warehouse

Kingsway Business Park is in line for an £18.5m boost and the potential creation of 200 jobs, after an investment company funded the construction of a new 216,000 square feet logistics unit at the business park.

The speculative unit, which is already under construction, is being funded by Standard Life Investments UK Property Fund, which is investing £18.5m, with plans to then rent the building out to a distribution or logistics firm.

The unit, called Kingsway 216, is due for completion in summer next year and, once occupied, is likely to generate more than 200 jobs.

Speculative development, investing in infrastructure before an occupier has been found, is a sign of growing confidence in the market and local economy and a further boost for Kingsway, which is already home to big names including Asda Wincanton, JD Sports and E-on UK.

Councillor Richard Farnell, the leader of Rochdale Borough Council, said: "If one thing underlines confidence in a region more than anything else, it is speculative development. I am delighted that the Standard Life Investments UK Property Fund has chosen Rochdale for this significant investment. Of course, new commercial developments such as Kingsway 216 lead to more employment for local people – and that's further great news for Rochdale."

The park already boasts big names including Asda Wincanton and JD Sports (which occupies more than 1m square feet), but is now looking to respond to market demand for more medium sized units. This build will be complete by next summer and will be closely followed by four further new units of 35 – 75,000 sq ft.

Robert Grafton, Development Director at Wilson Bowden, said: "Development on this scale is a clear reminder of the strategic importance of Kingsway Business Park. We're delighted that the Standard Life Investments UK Property Fund has chosen Kingsway for this significant speculative build. This marks the start of a new phase of development at Kingsway and is evidence of increasing confidence in the market."

The park is run by a run by the Kingsway Partnership, which comprises Rochdale Borough Council, The Rochdale Development Agency, the Homes and Communities Agency and Wilson Bowden Developments.

For further information about the site, please contact Robert Grafton | T: 01530 276276 | E: robert.grafton@wilsonbowden.co.uk