£1.1m for business park

Oct 17 2007 by Tony McDonough, Liverpool Daily Post

KEY Property Developments, the joint venture between St Modwen Properties and Salhia Real Estate Company of Kuwait, has secured more than £1m of European gap funding for the development of 57,100 sq ft of industrial buildings at Stonebridge Park, on the outskirts of Liverpool.

The major new £4.5m 70-acre “gateway” business park fronts the A580, one of Liverpool’s main arterial roads, close to M57 junction 4, and it is hoped the scheme could create more than 200 jobs.

The European Regional Development Fund, part of the Objective One programme, is giving £1.1m towards the project.

St Modwen, on behalf of Key Property, is bringing the scheme forward in partnership with Liverpool Land Development Company. A start on the four units in the first phase of the park which are being developed on a speculative basis, is anticipated in November, subject to clearing planning issues on the detailed application.

Mike Hosie, St Modwen’s development manager, said: “Securing gap funding will now allow us to press on and deliver a high quality scheme. Liverpool Land has created an extensively landscaped environment with a water feature running the entire length of the one mile frontage to the East Lancashire Road.

“This gateway site will ultimately deliver up to 30 developable acres of high specification office and industrial units.”

Matthews & Goodman and King Sturge are the joint agents.

The site is owned by the Northwest Development Agency.

tonymcdonough