Kingsway Business Park to receive £18.5m investment to open speculative logistics unit

Kingsway Business Park

Kingsway Business Park is set to receive an investment of £18.5m to create a 216,410 square foot speculative logistics unit.

The Standard Life Investment UK Property Fund is backing the scheme and it is understood that work has already started on delivering the unit.

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 – 75,000ft2.

Robert Grafton, Development Director at commercial developers, Wilson Bowden, which is managing the project, 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.

Wilson Bowden are the development managers for the project, which is in partnership with Rochdale Borough Council.

Kingsway Business Park currently houses JD Sports, Asda and E.ON UK.

The unit is due to be completed by mid-2016.