Commercial property market confidence remains high in Cheshire East
Commercial property take-up in Cheshire East is soaring with a record-breaking £118.5m of investment property deals last year – more than three times the total for 2016.
The strong signs of growth in the commercial property market during 2017 were presented to property professionals today at an event hosted by the Cheshire East Council’s arms-length Skills and Growth Company.
The figures are from a commissioned commercial property review by independent property consultants BE Group.
The office market included the development of new offices for Radius Payment Solutions in Crewe worth £12m and moves to the Alderley Park campus agreed with Cyprotex and Royal London – the latter helping to safeguard up to 1,200 jobs in the borough.
The most high-profile investment deal was the purchase of the BAE Systems’ facility at Radway Green, near Crewe, by a consortium of Korean investors for £56m.
Director of BE Group Vince Sandwell said: “The 2017 figures represent further evidence of the attractiveness and quality of Cheshire East’s property portfolio on an international scale and in particular the evidence of strong demand for high-quality industrial space, where demand is outstripping supply.”
Julian Cobley, managing director of the Skills and Growth Company, said: “We believe that the commercial property growth during the past 12 months will continue and set further growth during 2018, retaining our position as a strong and diverse economic powerhouse.
“With the support of the Skills and Growth Company, businesses can look confidently to further sustainable growth and success in the future. My objective remains to ensure Cheshire East continues to be one of the UK’s best places to live and invest in.”
Further details and an executive summary of the commercial property review is available at: www.skillsandgrowth.co.uk/news