Cheshire East Annual Property Report 2013

Transcription

Cheshire East
Annual Property Report
2013
01
02
Contents
Foreword
03
Executive Summary
07
The Cheshire East Economy
09
Investment
11
Offices
15
Leisure and Culture
19
Industrial and Distribution
21
Retail
25
Residential
29
Strategic Developments
33
Acknowledgements
36
03
Foreword
In 2030, the economy of Cheshire East will have changed sig
doubled and will continue to be characterised by their qualit
In 2030, the economy of Cheshire East will have
changed significantly. Our annual job creation
levels will have doubled and will continue to be
characterised by their quality and high productivity
(GVA) output. Our quality lifestyle offer and
connectivity will be internationally renowned.
We will be rightly recognised as a prime
investment location within the global market
place. We will make this vision a reality by
delivering investment from business and
Government in property and infrastructure.
We are building upon solid foundations. We
delivered over 20,000 jobs between 1998 and
2008. We have a fantastic mix of higher value
economic sectors and businesses from some
very local start-up companies to some of the true
global giants. We are a well connected area,
with stations on the West Coast Mainline, future
High Speed 2 and M6 motorway junctions, and
airports on our doorstep.
High value and high quality growth generates a
high investment return. These are the ingredients
of our vision. We want to take Cheshire East to
the next stage and the Annual Property Report
provides a benchmark against which performance
can be measured.
We are seeking investors, existing and new, to
engage with us to realise their investment returns.
Our engagement with the private sector will be
much different to what has gone before.
There will be a refreshed focus on driving new
investment and we will use our own property
portfolio much more proactively. First and foremost,
taking Cheshire East to the next level requires a
greater flow of private capital. To this end, we are
setting up a new vehicle to speed up delivery and
help bring sites forward quicker.
For the public sector, our proposition to Government
will lever out more public funding where it exists by
demonstrating that the best return for government is
by investing in success, as demonstrated by Cheshire
East’s economic track record. For our own part, we
are willing to use our covenant strength and planning
and policy powers to make it easier to invest in
Cheshire East, and to enable investment returns.
In short, we have an ambitious programme and a
desire to create a platform for new investment and
accelerated development.
Cllr Michael Jones
Leader, Cheshire East Council
gnificantly. Our annual job creation levels will have
ty and high productivity (GVA) output
04
05
2014 will be Pochin’s 80th trading year since the company was founded as a
joinery firm in Manchester operating from under the railway arches on Castle
Street. We have in those years evolved as a business working with clients and
partners to supply specific services or total solutions.
Pochin Property are focused in the North West and
North Wales delivering landmark schemes of the
highest quality. Our experience in master planning
and land assembly across commercial, industrial and
retail sectors has enabled the delivery of individual
buildings as well as large mixed use developments
with both the public and private sectors.
We are proud of our reputation in the industry,
our flexible approach, willingness to address
innovative methods and our track record of
delivering quality projects time and again. Despite
the tough economic conditions of the last few
years, we look forward to the future with
confidence.
“Despite the tough economic conditions
of the last few years, we look forward to
the future with confidence.”
06
07
Executive Summary
In 2012 Cheshire East was ranked as one of the top ten local authority
areas to locate a business. A range of factors combine to give it such a
high rating. Connectivity in terms of road, rail and air links is one, and
as this report notes a number of funding announcements during the year
will see enhanced road access within, and to Chester East.
Connectivity is also about telecommunications
infrastructure and 2012 saw real progress being made
towards the aim of superfast broadband being rolled
out to at least 95 percent of Cheshire East by 2015.
The strength of the local economy is another factor.
Key industry sectors embrace automotive
manufacturing; life sciences; scientific R & D; paper
and food production; energy and the activities
of head offices. Cheshire East is home to outstanding
international brands such as Bentley, AstraZeneca (still
a major investor and employer despite the announced
planned relocation of its Alderley Park R & D centre)
and AMEC.
Waters Corporation’s Mass Spectrometry headquarters
is under construction and Jodrell Bank has been
announced as the home for the headquarters of the
international partnership Square Kilometre Array radio
telescope project.
The borough also has more of the North West’s Top
500 companies’ headquarters than anywhere outside
Manchester. Ten percent are based here, just a few of
the nearly 16,500 registered companies who employ
more than 159,000 people in Cheshire East.
Another factor is the positive attitude to business
despite the current tough economic conditions.
In concert with other local authorities in the North
West, Cheshire East Council is leading the way in
supporting the private sector to innovate and generate
economic growth.
It continues to put in place the building blocks for
future growth, essential if the borough is to continue
to move forward. The agenda for and physical delivery
of new employment and housing allocations is set out
in the draft Development Strategy, part of its emerging
Local Plan, which covers the period to 2030.
And a high ranking location for business requires a
robust property market. The findings of the 2011 and
2012 Property Reports demonstrated good levels of
activity in all sectors, with most seeing year on year
growth in performance.
That momentum slowed during the past twelve
months, an experience in line with national and
regional trends.
The Cheshire East area is ho
such as Bentley, AstraZenec
For occupiers and investors alike the reduced supply of
quality, modern stock, as a result of take up in the last
two years, limited opportunities.
The investment market reported few significant deals.
Those that were involved food retail stores and their
perception as prime assets was reflected in initial yields
of 4.0 and 4.7 percent, the first sub-5 percent yields
reported for at least three years.
The industrial and distribution sector mirrored the
national and North West trends of a sharp drop in
take-up over the last twelve months. Cheshire East
still saw in excess of half a million square feet of new
occupation. Fewer deals were done but the main
difference from previous years was the absence of any
large warehousing lettings, primarily due to the limited
amount of large premises. Nevertheless, also in line
with the regional experience, 2012 saw transactions in
the “mid-box” range of 50,000 to 100,000 sqft (4,645
to 9,290sqm).
08
ome to outstanding international brands
ca
The headline rent of £6.80 per sqft (£73.30 sqm) was
achieved in Crewe, but with much of the take-up being
older secondary property most deals were at levels of
between half and two thirds this figure.
Planned new distribution developments at Basford
West (Crewe) and Midpoint 18 (Middlewich), will be key
to enabling major new investment deals of this nature.
In contrast 2012 saw more office deals and a rise of
almost twenty percent in the amount of floorspace
occupied. Over 140,000 sqft (13,000 sqm) was let or
sold, all associated with existing buildings. Waters
Corporation’s bespoke headquarters in Wilmslow is
excluded from this figure.
Wilmslow attracted its largest letting in five years and
again has the borough’s headline rent of £18.50 per
sqft (£199 per sqm).
There was limited activity in the retail property market
sector.
It should of course be noted this report has a minimum
threshold of 2,000 sqft (200 sqm) and there will be
deals involving smaller floorplates, especially as
historically developments have comprised 1,000 to
1,500 sqft (93 to 139 sqm) units.
Once again food retailers are well represented
with Morrisons, Marks and Spencer Simply Food and
Waitrose all involved.
Activity in the residential sector was less about new
completions and more about new applications.
However in line with experience across the wider North
West residential land acquisitions increased, with
Bellway and Persimmon in particular acquiring former
industrial sites where change of use to residential has
been consented.
These two sites form part of the reservoir of approved
supply of developments of more than 100 units to
be completed in the next five years. That reservoir now
extends to over 3,500 dwellings, an increase by 15
percent over the course of the last twelve months.
09
The Cheshire East Economy
Recent research has named Cheshire East in the top
ten best local authority areas to locate a business.
Nearly 16,500 registered companies employing over
159,000 employees and 18,000 business units. Clear
evidence that Cheshire East is an area with a strong
local economy. And with forty nine of the North West
Insider Top 500 companies headquartered in the
borough, Cheshire East has the highest share of any
local authority area except Manchester.
In Knutsford AMEC and Marlowe, Cheshire East has
two of the top six rated businesses. A total of eight
companies from Knutsford and fifteen from Crewe
feature in the Top 500, with all the Borough’s key
settlements having at least one representative.
The dynamic growth of Cheshire East’s business
community is evidenced by the fact that one in six of
all the new entrants into the ratings were ALSO from
the Borough. Nineteen other companies improved their
position from 2011.
Data shows that in the decade to 2008 Cheshire East
delivered over 20,000 jobs and even during the recent
UK and global recession the area has continued to
create jobs at a rate above the UK average. With a
population set to be expanded by some 40,000 by 2025
it is vital the area makes optimal use of its assets and
competitive advantages to generate and attract
employment opportunities.
Cheshire East’s competitive advantages include its
connectivity with its road and rail infrastructure placing
it as a gateway to both the north and the Midlands.
And a number of recent funding announcements, some
in 2012, have been made regarding enhancements to
this infrastructure.
These include:
• delivery of the £27 million Crewe
Green Link Road that will unlock the Basford East and
West Employment sites. The new M6 to M56 dual
carriageway, easing congestion on the A556 and
providing improved access to south Manchester and
Manchester International Airport.
• Regional Growth Fund support to deliver Middlewich
Eastern Bypass and facilitate further phases of
Midpoint 18 business park. £11 million Pinch Point
funding for Junctions 16 and 17 of the M6 motorway,
to improve accessibility to Crewe and Sandbach.
£6 million secured to improve facilities at Crewe
railway station. £3.5 million from the Local
Sustainable Transport Fund for Crewe’s public
transport network.
But the big announcement was the proposed
routing of the High Speed 2 network through Crewe,
reducing travel times to London to less than 60 minutes.
Cheshire East has key sector strengths and locational
advantage in automotive manufacturing, scientific
research and development, life sciences, energy,
remediation industries, paper and food production, as
well as activities of head offices. The latter has one and
a half times more people than the national average.
For many of the companies within these sectors
involvement in global markets is behind their success.
Two Macclesfield-based businesses provided examples
of this in 2012. Bodycote broadened its production
capability and customer base in key regions of the USA
through a £32 million purchase of American company
Curtiss-Wright Corporation. IT asset management
company Mattelli was acquired by Fortune 500-listed
Avnet Inc, one of the world’s largest electronics
distributors, which will help the firm roll out its services
to a global market place.
Bentley Motors secured Regional Growth Fund
support of around £4.7 million during the year, some
of which will be used to help fund a new engine
R&D project aimed at helping the business expand
into new overseas markets. Government funding
was also secured to part fund the company’s
“Niche Luxury Vehicles Cluster Supplier Capacity
Building Programme”.
• Successful local economies typically demonstrate
high company start-ups, survival rates and a high rate
of churn. Against these criteria Cheshire East has
generally performed well. In particular there has
been growth in high value enterprises, with spin-outs
from the well established automotive and life
sciences sector embedding further key growth
businesses in the Borough. The continuation of
this trend is a critical element of Cheshire East’s
future economic growth, and sustaining it demands
an appropriately educated, skilled and connected
labour pool.
• In this respect progress was made during the year.
Manchester Metropolitan University, having
previously taken the strategic decision to focus all
its Cheshire-wide development on Crewe, relocated
multiple departments and teams to the campus.
The Crewe campus is now home to 6,000 students
who live and work in the town and already consents
have been granted to boost the number of student
flats accommodation.
Also in Crewe, Cheshire East Council with partner
organisations is bringing forward plans for a 600
place University Technical College that will focus on
advanced manufacturing and engineering, with a
focus on working with local businesses.
In concert with its sub-regional partners and Halton
Council, Cheshire East Council has secured European
funding, matched by local authority monies to deliver
a £30 million investment programme for superfast
broadband. By 2015, 96 percent of the sub-region will
be connected, serving businesses and homes alike,
helping over time to generate at least 11,500 jobs and
save 280,000 commuting-miles per day.
Two significant announcements as 2012 drew to a close
provided contrasting news for Cheshire East’s local
economy. AstraZeneca announced the decision to close
its longstanding Alderley Park research base in 2016
and transfer many of the jobs to a new facility in
Cambridge. Manufacturing will remain in Macclesfield,
as will as around 700 non-R&D jobs at Alderley Park.
Future options for development at Alderley Park are
being considered by AstraZeneca, alongside a Task Force
with Government and representatives from local
authorities and LEPs.
10
There is evidence of strong demand from other life
science businesses to locate here. In May 2013, it was
announced that three businesses would locate in
surplus accommodation at Alderley Park. With evidence
of demand from other businesses across the globe,
there are good prospects to rekindle earlier plans for a
Bioscience Park and a business incubator.
The Government’s announcement of High Speed 2,
referred to earlier, and its route through Cheshire East,
is seen as a substantial boost to the area’s economy.
In particular the creation of a HS2 interchange will
deliver a quantum shift in the dynamics of Crewe’s
economy. With this new rapid link to London and the
existing direct connections to both road and rail logistics
networks, Crewe will truly offer a North West based
opportunity for de-centralisation.
Beyond the 200-300 jobs expected with a HS2
maintenance depot, long term the arrival of HS2 could
lead to the creation of 20,000 new jobs in and around
the town, as well as 5,000 new homes.
Analysis of property enquiries received by the
Council during the year shows that many businesses are
fluid in their preferences for a location within Cheshire
East. All parts of the borough find favour. Approximately
half the enquiries were prepared to consider any of
the three main geographies of Congleton, Crewe and
Nantwich and Macclesfield.
One quarter specifically requested Crewe and Nantwich.
Another quarter referenced only Macclesfield. One in
eight of the enquiries were for the area comprising
Congleton, Middlewich and Sandbach.
Enquiries by Location Preference, 2012
Congleton
Crewe & Nantwich
Macclesfield
Percentage of Enquiries
4
8
8
12
4
4
4
8
4
5
4
4
4
15
8
4
8
27
8
4
4
1
8
8
4
27
13
Total
100
11
Investment
Although around half of all UK property investment transactions in 2012
involved overseas investors but the North West market is very much reliant
on interest from UK institutions and private investors. This was the case in
Cheshire East, with the likes of Aberdeen Asset Management and Standard
Life Investment capitalising on the available opportunities.
The bulk of the value reflected retail transactions.
The recent absence of new office and industrial
development, which is also a feature of the national
property market, is limiting investment opportunities in
these sectors in Cheshire East.
The sale and leaseback of Tesco’s Congleton store,
a deal done with Standard Life Investment
generated the keenest deal at 4 percent, and the
biggest capital receipt of £21 million. Tesco has taken
a twenty year lease of the property.
Cheshire East has a number of active indigenous
developers and investors, including the likes of Orbit and
Bluemantle. The last Property Report referenced the
letting by Bluemantle to Waitrose at its The Parade retail
development in Alderley Edge. The development, which
also included a letting to the Co-op, was sold in 2012 and
attracted a 4.71 percent initial yield.
Evidence nationally indicates that the level of
investments, totalling £35.5 billion, was one and a
half percent up on 2011. It also shows that the retail
sector represented only seven percent of this figure.
But neither of these trends aligns with Cheshire East’s
experience over the last twelve months in terms of
reported investment transactions.
Property investment activity was limited with both
the number of deals and amount of monies involved
showing a fall on the 2011 performance. Only four
transactions were reported, one third the number of the
previous year. The total value invested, at £31 million,
showed a drop of one third compared to 2011.
These two transactions represent evidence of the first
sub-five percent yields reported during the last three
years. The previous best was the five percent achieved in
2011 for property leased in Knutsford to Waitrose.
It is clear from experience elsewhere in the North West
that investor demand for prime assets be they retail,
office or industrial, remains strong. When such property
has come to the market it has attracted keen interest.
Retail deals in 2012 in Cheshire East evidence this. For
the time being however it is expected the market will, as
Cheshire East has also experienced in 2012, continue to
see more volume in the secondary or tertiary end of
investments as banks or LPA receivers work their way
through distressed asset portfolios.
12
Evidence nationally indicates that the level of
investments, totalling £35.5 billion, was one and a
half percent up on 2011
13
Investment Deals 2012
Location
Size
(sqm)
Price
(£m)
Initial
yield (%)
Agents
Tesco
4.0
Morgan
Williams /
Strutt and
Parker
6.40
Co-op /
Waitrose
4.71
Christopher
Dee / Harvey
Spack Field
1,441
0.63
Alliance
National
11.1
Sanderson
Weatherall /
Jones Lang
LeSalle
2,787
3.00
Multi-Let
8.5
Christopher
Dee
Vendor
Purchaser
Tesco
Standard Life
Investment
4,580
21.00
Bluemantle
Aberdeen
Asset
Management
1,394
LPA
Receiver
Private
Investor
Tenants
Retail
Barn Road,
Congleton
London Road,
Alderley Edge
Industrial
Unit 5, Marshfield
Bank Industrial
Estate, Crewe
Mottram Way,
Macclesfield
Threadneedle
Mottam
Investments
14
15
Offices
The importance of the services sector to Cheshire East’s local
economy was reflected in the 2012 property market. There
was an increase in floorspace taken up and an increase in the
number of transactions reported of 200 sqm or more. At just
over 140,000 sqft (13,000 sqm), the amount of new floorspace
occupied was up twenty percent on 2011.
The market saw deals activity in most of Cheshire
East’s office locations. To the fore was Wilmslow, and
developer Orbit who alone hold almost 350,000 sqft
(32,500 sqm) under their ownership in the town. 2012
saw Orbit concluding what they believe to be the
largest letting in Wilmslow for five years, with just over
9,200 sqft (858 sqm) being taken at Sandfield House.
Orbit’s office domain extends across Cheshire East
and they reported lettings in Crewe and Macclesfield,
as well as Wilmslow. In Macclesfield the deals included
a letting of 14,039 sqft (1,304 sqm) to Metro Rod
at Tytherington Business Park. Refurbishment of space
formerly occupied by Focus DIY at Crewe Business
Park has paid dividends with lettings already to
Crystal Legal Services and business training academy
CLM Associates.
Another North West headquartered developer,
Bruntwood, has invested in Knutsford where it has
properties in both the town centre and at Booths Park.
Booths Park is now home to over 65 companies, with
large company new additions during the year including
Sir Robert McAlpine and Mastercard.
Booths Park also accommodates serviced office space
and this attracted football legend Bobby Charlton’s
charity Find A Better Way.
In Knutsford town centre, Insider Growth 100 company
Crawford Healthcare relocated to 10,000 sqft (929 sqm)
at King Edward Court to cope with continued growth as
the business builds on its recent acquisitions of skin and
wound care brands.
The 2012 Annual Property Report included
reference to Waters Corporation’s acquisition
of 37 acres in Wilmslow to construct a new
Mass Spectrometry headquarters that combines
offices, demonstration laboratories, R & D
capabilities and manufacturing space. Work began
in May 2012 and the 208,000 sqft (19,300 sqm)
facility is due to complete in September 2013.
And 2012 saw another highly prestigious new
science based project captured in Cheshire East.
This is the announced office headquarters, to
be located at Jodrell Bank, of the international
partnership Square Kilometre Array project.
13,500 sqft (1,250 sqm) of offices are being built to
accommodate the project’s 65 headquarters staff.
16
Sticking with the theme of stars, plans were unveiled
for Capricorn Business Park, at Sandbach. Developer
W&S Sandbach is looking to bring forward a mix of
office buildings, a hotel, pub, restaurants and a gym
on land adjacent to Junction 17, M6 motorway.
This first phase of development also proposes
250 residential units. Capricorn is seen as a twenty year
three phase development, with the timing of
development now appropriate following the announced
improvements to Junction 17.
Although this report records deals above a threshold of
2,000 sqft (200 sqm) it is recognised that the flexible
workspace industry, part of the services industry plays a
vital role in changing workspace trends.
Businesses of all sizes are adapting to a more mobile
workplace and are beginning to adopt alternative working
methods such as drop-in business lounges, shared office
space and co-working locations
Touchdown and hot-desking space are now as prevalent
as part-time, serviced and managed offices, and to these
last year saw the launch of NearDesk. Described as the
‘Oyster Card for desks’ it is a system that allows business
users to swipe in and out of workplaces on a pay as you
go basis.
The Square Kilometre Array project is a one
and half billion euros radio telescope
development involving collecting sites in the
southern hemisphere, mostly in Southern Africa
and Australia.
SKA will address fundamental unanswered
questions about our Universe including how
the first stars and galaxies formed after the big
bang; how dark energy is accelerating the
expansion of the Universe; the nature of gravity,
and the search for life beyond Earth!
And the BCA, the UK trade association representing the
flexible space sector reports that research across a
number of flexible workspace operators in the sub-region
has found that some locations are experiencing uplift in
both workspace demand and take-up.
Though this remains a relatively lukewarm performance
rather than a strong upward trend, it is seen as a positive
step given that many other regions continue to battle
below-average rental values and weakened demand as a
long-lasting legacy of the global recession.
Evans Easyspace, a nation-wide flexible workspace
operator reports positive result in its Cheshire region,
with enquiries up by 15 percent in 2012 and letting
numbers stable. However the average length of
occupancy has seen a 40 percent decrease, although this
may not necessarily be negative news about the health
of SMEs. It could be businesses have simply relocated or
expanded elsewhere, but equally it could also point to
companies that have indeed been forced to downsize or
in some instances close altogether.
17
Office Deals 2012
Size
Vendor /
Landlord
Purchaser /
Tenant
(sqm)
Lillyville Limited
TWP Wealth
Gladman
Capital House
Location
Price/Rent Lease Terms
Agents
(£/sqm)
(years)
200
159.00
10
Williams Commercial
Malcolm Joyce
213
Undisclosed
Freehold
Lamonts / Williams
Commercial
Marbury Property
Trading
County Insurance
675
103.70
6
Lamonts
Infinity House
Crewe Business Park
Fujitsu
Lifestyle Services
Group
650
137.24
2
Colliers International
Gawsworth House
Crewe Business Park
Orbit
Developments
Limited
Crystal Legal
Services Limited
558
Undisclosed
Scott House
Private Landlord
Volker Rail
408
127.45
2
Oak House,
Crewe Hall Farm
Duchy of
Lancaster
Red Eye
372
161.00
10
Gawsworth House
Crewe Business Park
Orbit
Developments
Limited
CLM Associates
Limited
257
Undisclosed
10-11 Macon Court
Malcolm Joyce
Bentley Solicitors
248
72.58
7
Lamonts
Santune House,
Shavington
Cheshire East
Council
Tom Slater
0.32
ha
350,000
Freehold
Lamonts
Brookside
Properties Ltd
Crawford
Healthcare
817
113.00
7
Edwards / Meller
Braggins
St Ann's House,
1 Old Market Place
Private Investor
Brammer UK
Limited
622
156.00
Booths Park
Bruntwood
Mastercard
547
166.80
Booths Park
Bruntwood
Sir Robert
McAlpine
353
172.22
Alderley Edge
69 London Road
Congleton
3 John Bradshaw Court
Crewe
Lamonts
Lamonts
Lamonts
Knutsford
King Edward Court
10
10
10
Matthews & Goodman
(incorporating
Edmund Kirby) / Williams
Commercial
Jones Lang LaSalle /
CBRE / Edwards
/ Jones Lang LaSalle /
Edwards & Co/CBRE
18
This schedule only relates to properties in excess of 200 sqm. Lease renewals are excluded.
Size Price/Rent Lease Terms
Vendor /
Landlord
Purchaser /
Tenant
(sqm)
(£/sqm)
(years)
Ashwood Court
Tytherington Business Park
Orbit
Developments
Limited
Metrorod
1,304
107.64
10
Crown Centre
Magnus
Phil Louis
395
Undisclosed
Magnus
Unit 10, Lyme Green
Business Park
Orbit
Developments
Limited
Climax Portable
Machine Tools
Limited
279
Undisclosed
Orbit Developments
Limited
Pinewood Court,
Tytherington Business
Park
Orbit
Developments
Limited
Vee24
278
Undisclosed
Greenham
Commercial
3rd Floor, Castle House,
Waters Green
Quorum Property
Collect A Case
Limited
232
Undisclosed
Lambert Smith
Hampton
Crown Centre
Magnus
Fiona Curston
200
Undisclosed
Magnus
The Old Smithy
John Broadhurst
Phil Mizzy
312
769.23
Freehold
Lamonts
Unit 1 Verity Court
Pochin
Suffolk Life
276
1,312.77
Freehold
Lamonts
671
82.00
Location
Agents
Macclesfield
Orbit Developments
Limited
Middlewich
Nantwich
The Alpha Building
Stapeley Technology Park
Boot Property
Wilmslow
Whitecroft House,
51 Water Lane
Private Landlord
Private Tenant
878
177.61
2nd Floor, Sandfield
House, Water Lane
Orbit
Developments
Limited
Roberts Jackson
Solicitors
858
188.37
10
DTZ / Canning O'Neill
3rd Floor, Crown House,
Manchester Road
Orbit
Developments
Limited
Mobica Limited
483
161.46
10
Lambert Smith
Hampton / Canning
O'Neill
1st Floor - West Wing,
Sandfield House,
Water Lane
Orbit
Developments
Limited
Cirrus Connect
402
199.00
5
DTZ / Canning O'Neill
Bollin House, Bollin Walk
Orbit
Developments
Limited
Leap29 Limited
346
Undisclosed
Savills
Orbit Developments
Limited
19
Leisure and Culture
The latest national statistics reveal visitor numbers to historic houses, gardens,
farms and country parks all showing uplifts. As Cheshire East’s Tatton Park rolls
all these elements into one location it is timely that the Council has produced a
five year vision for visitor activities.
By 2016/17 the Council is targeting one million
visits per year. This is some 155,000 visitors more
than are currently visiting, a level which already
places it at number 17 in the top twenty paid for
attractions in England.
Over this period the target is to increase
employment in the visitor economy by another
4,500 jobs, an uplift of fourteen percent on
present numbers and for Cheshire and Warrington
to become a true family destination to broaden the
market and make the most of product investment.
Included in this five year vision is the development
of a major new activity attraction, and in this
respect Bure Valley Adventures have submitted
an application to use 125 acres (50 ha) of Tatton
Park land for ‘BeWILDerwood’.
Cheshire East Council’s property assets include
other leisure facilities and deals were done with
private sector partners to secure the future of two
of them.
At an estimated cost of £6.5 million this outdoor
attraction is described as a ‘curious treehouse
adventure’. A planning decision is due in Spring
2013, and if approved will open a part of the
estate that is currently inaccessible. It will
provide a family attraction outdoor play facility
very different to anything else in the region.
In Knutsford a twenty-five year lease was agreed
with London-based cinema and film distribution
company Curzon to run the Civic Centre and
Studio Cinema, which was originally built in the
1930s. In Crewe, following an impressive 58
expressions of interest made by potential partners,
Cheshire East selected another London based
organisation, HQ Theatres to run the historic Grade
II listed Lyceum Theatre.
This fits well with the wider sub-regional
aspirations for the visitor economy, where targets
have been set to grow visitor spend from
£1.78 billion to exceed £3 billion by 2020.
In September Cholmondeley Castle hosted CarFest
North as part of Warrington-born Chris Evans’ idea
of a dream family-friendly festival to raise monies
for BBC Children in Need.
20
By 2016/7 Tatton Park is expecting
one million visits per year
Combining a celebration of his three biggest
passions – cars, live music and scrumptious food
– the festival weekend raised around £750,000
for the charity. Such was the success CarFest
North 13 has been announced though existing
commitments mean it will this year be moving from
Cholmondeley to Oulton Park.
One of Cheshire East’s leading hotels saw a £6
million facelift. De Vere Group has invested in
Mottram Hall, in terms of the hotel spa, bedrooms,
golf course, dining and conference facilities to,
in the words of the owners, “ensure that the hall
reaffirms its status as the number one destination
resort in the North West, where it rightfully
belongs.”
Golf continues to be a highly participative pastime
in the UK.The latest data suggests that at least four
million people participate in full course play and
three million use driving ranges.
In 2012 High Legh Golf Club near Knutsford saw
membership rise from 330 to nearly 600
following its buyout from administration in 2011.
Investment was also made in a new golf
academy, with naming rights secured by
Andrew ‘Chubby’ Chandler’s International Sports
Management company (ISM).
Based at Rostherne, ISM represent amongst others
Lee Westwood, Darren Clarke and Louis Oosthuizen.
The academy, which will feature a driving range,
will host these and other top golfers during noncompetitive periods.
Historically Robinsons of Stockport might be
the brewery most associated with pubs in the
Cheshire East area, but 2012 saw JW Lees & Co,
the family-owned North Manchester brewer
increasing its presence.
JW Lees bought The Plough & Flail Pub and
Restaurant at Mobberley and the recentlyrefurbished The Rope & Anchor at Dunham Massey
from Deckers Restaurant, adding to its stock of pubs
in Cheshire as well as The Edge hotel and restaurant
in Alderley Edge.
In Sandbach JD Wetherspoon added to its portfolio
leasing premises on High Street from Scottish and
Newcastle UK.
21
Industrial and Distribution
The strong performance of the two previous years, which included the
take-up of most of Cheshire East’s remaining Grade A stock, could not be
sustained in 2012. The headline take-up for 2012, at 466,600 sqft (43,350
sqm) followed the regional trend of a fall from the previous year’s figures.
The North West, despite delivering the biggest share
of take-up amongst the UK regions, saw its industrial
property market experiencing a five year low total.
At 12.5 million sqft (1.16 million sqm) the North West
total was one eigth down on 2011’s take-up.
Extenuating circumstances of a continuing lack of
stock in the absence of new speculative development,
and the continuing impact of the economy on small
and medium sized enterprises, heavily influenced the
reduction in take-up in Cheshire East.
57 percent of take up during 2010 and 2011 was
represented by just four properties, but the reducing
availability of further stock of such large buildings
impacted on take up last year. Only three deals involved
properties in excess of 30,000 sqft (2,787 sqm).
In Crewe, DHL leased 65,000 sqft (6,040 sqm) and
Fayrefield Foods acquired 72,600 sqft (6,746 sqm). The
largest was the sale of 100,000 sqft by the LPA Receiver
at Radnor Park Industrial Estate, Congleton. The building
was purchased by Roman Lodge Holdings.
Regionally there was however growing occupier interest
in properties of 50,000 to 100,000 sqft (4,645 to 9,290
sqm), due to demand from manufacturers and internet
related logistics businesses.
This was also the case for Cheshire East with the
three deals referred to above falling within this size
band. This is the first year transactions of this size have
featured in the property report.
Demand for industrial property represented 45 percent
of all the property enquiries received by Cheshire East
Council. It continues to be weighted towards smaller
units, with 60 percent being for premises of less than
2,500 sqft (232 sqm). Just under a fifth of the enquiries
relate to land rather than property, and these were
dominated by warehousing or industrial property needs.
The halt in the upward trend in floorspace take-up was
also reflected in the number of transactions. At thirty two
the deals number was forty percent below that of 2011.
The regional experience of prime rents holding up, and
a reducing supply stock leading to secondary rents also
beginning to stabilise, was also seen in Cheshire East.
The headline rent of £6.80 per sqft (£73.30 per sqm) was
achieved in Crewe, followed by £6 per sqft (£64.58 per
sqm) at the aptly named Prosperity Court at Midpoint 18,
Middlewich. Much of the take-up was however older
secondary property and this reflected in the rents which
ranged from £3.25 to £4.50 per sqft (£34.98 to £48.44
per sqm).
6
1
5
4
2
22
Breakdown of Enquiries by Size 2012
Size Sqm
Percentage
1.
0 - 500
23%
2.
501 - 1,000
23%
3.
1001 - 2,500
14%
4.
2,501 - 5,000
16%
5.
5,001 - 10,000
8%
10,000+
16%
3
Manufacturing continues to be an important aspect
of Cheshire East’s economy and commitments and
announced plans by existing companies reinforced
this message during 2012.
Engineering group Cygnet established a new
facility at Midpoint 18; Oliver Valves opened a
47,000 sqft manufacturing plant at Parkgate
Industrial Estate next to its Knutsford headquarters,
and consent was granted for a £50 million extension
to Disley Tissue’s paper manufacturing plant that
will see a wood pulp mill capable of producing 220
tonnes a day.
Two of Cheshire East’s key industrial and
distribution employment areas saw activity during
the year geared to bringing sites and/or buildings to
the market.
Indications that the return of speculative
development may at last be on the horizon were
indicated by Pochin’s planning application for Phase
2 of Valley Court, Midpoint 18. The application
proposes 50,000 sqft (4,645 sqm) of workspace
units. Pochins are also progressing Midpoint 18’s
third phase employment and leisure development.
Planning permission has been granted and £4.1m
Regional Growth Fund support was secured towards
the cost of completing the Middlewich Eastern
Bypass that opens up the site as well as easing town
centre traffic problems.
Capitalising on this, plans are emerging for the
Cheshire FRESH project that will bring together a
range of businesses into a brand new purpose built
rural business village setting. This will cater for
both well established and new start-up businesses.
Extending to over 47 acres (19 ha) this will see some
450,000 sqft (41,800 sqm) of new floorspace, to be
anchored by Marshalls Market and Auction Centre.
It will also include a Food Innovation and Enterprise
Centre, offices, hotel as well as further
manufacturing and distribution space linked to
Midpoint 18 Business Park.
Goodman’s Basford West development is a major
component of the All Change for Crewe strategy.
The gross area is about 130 acres (52 ha), the
net about 85 acres (34 ha) and although planning
exists for industrial, distribution and office uses a
combination of the economic recession and
associated infrastructure costs have impacted on its
implementation.
Whilst retaining the bulk of this site for employment
use, Goodman has produced a revised application
for 31 acres (12.5 ha) that would introduce
residential development as part of a mixed use
development. Bringing in these higher value uses is
seen as generating contributions towards unlocking
the strategic employment site element.
23
Industrial Deals 2012
This schedule relates only to properties in excess of 200 sqm. Lease renewals are excluded.
(£/sqm)
(years)
Vendor /
Landlord
Purchaser /
Tenant
LPA Receiver
Roman Lodge
Holdings
9,290
108.00
Freehold
GVA
Linea House,
Marshfield Bank
Threadneedle
Investments
Limited
Fayrefield Foods
Limited
6,746
400.24
Freehold
Savills / Jones Lang
LaSalle
Weston Road
Rowlinsons
DHL
6,040
29.60
3
Lamonts
Unit 5, Marshfield Bank
Industrial Estate
K&M Industrial
Developments c/o
Grant Thornton
Brian Metcalfe
1,441
441.36
Freehold
Sanderson Weatherall
/ Jones Lang LaSalle
Unit 2 Marshfield Bank
Industrial Estate
Private Pension
Fund
Kurtis Homes and
Living Limited
1,380
43.05
4
Lamonts
Unit 2a Marshfield Bank
Private Landlord
Active Brand
Concepts
1,380
34.98
3
Lamonts
Unit 16 Orion Park
Highcross
Aztec Chemicals
1,356
645.28
Freehold
Lamonts / GVA
Unit 21A, Radway Green
Venture Park
Ashtenne Holdings
plc
HemwayPodit Ltd
1,115
34.98
3
Ashtenne
May Street
Maurice Kindler
Goodtime Charlies
Ltd
949
269.00
3
Euro Car Parts,
Quakers Coppice
Lothlorian
Euro Car Parts
929
51.13
10
Lamonts
Venture Park
Ashtenne Holdings
plc
PET Rail Hire and
Services Ltd
669
37.69
3
Ashtenne
First Avenue
Fraylings Holdings
Limited
Wrights Pies
557
1,041.29
Freehold
Lamonts
Macon Way
Repcliffe Limited
crewfix
546
73.30
10
Lamonts
Unit 8h Marshfield Bank,
Crewe
Private Landlord
Kinndertons
523
573.61
Freehold
Lamonts
Venture Park
Ashtenne Holdings
plc
RPM Power
UK Ltd
343
41.40
3
Ashtenne
Venture Park
Ashtenne Holdings
plc
HemwayPodit Ltd
223
51.62
3
Ashtenne
Venture Park
Ashtenne Holdings
plc
PET Rail Hire and
Services Ltd
223
45.74
1
Ashtenne
Address
(sqm)
Agents
Congleton
Third Avenue, Radnor
Park Industrial Estate
Crewe
East Annual
CheshireCheshire
West & Chester
AnnualProperty
PropertyReport
Report2013
2011
(years)
(£/sqm)
21
24
Vendor /
Landlord
Purchaser /
Tenant
(sqm)
Stanley Green
Business Park
Orbit
Developments
Travis Perkins
511
Undisclosed
10
Knight Frank /
Davies Harrison
Unit D9, Stanley Green
Business Park
Orbit
Developments
Eco Trade Europe
307
67.18
3
Knight Frank /
Davies Harrison
Unit D, Marlborough Close,
Parkgate Industrial Estate
Oasis Retail
Services
Top Speed
Couriers
499
38.14
Unit C, Marlborough Close,
Oasis Retail
Services
Oliver Twinsafe
Valves
493
37.66
Unit A, Marlborough Close,
Oasis Retail
Services
Oliver Valves
Limited
486
37.66
Clarence Mill, Hulley Road
Private Landlord
RoBAT UK
725
Undisclosed
Mottram Way Hurdsfield
Industrial Estate
Private Vendor
RoBAT UK
493
300,000
Unit 13, Fence Avenue
Industrial Estate
GS Ross Limited
Macclesfield
College
511
48.44
Greenham
Commercial
Unit 1, Snape Road
Industrial Estate
Nationwide
Chestergate
Properties
484
433.80
Address
Agents
Handforth
Knutsford
Lambert Smith
Hampton /
Mellor Braggins
Lambert Smith
Hampton /
Mellor Braggins
Lambert Smith
Hampton /
Mellor Braggins
Macclesfield
Freehold
Greenham Commercial
/ Deloittes
Middlewich
Unit 7 Valley Court,
Midpoint 18
Pochins
Unit 6a Midpoint 18
Coates
Penn White
Limited
975
48.44
8
Lamonts
Unit 4 Prosperity Court,
Midpoint
Prosperity Court
Partnership
Ridgeway
Components
Limited
232
64.58
3
Lamonts
Andrews Property
Investments
Nantwich Saddlery
696
48.44
10
Lamonts
Unit 4-5 Poynton
Industrial Estate
MCR
McCann Erickson
930
40.37
4
CBRE
Unit 3 Poynton
Industrial Estate
MCR
Allwood
Fireplaces
395
45.20
1
CBRE
Cygnet Integrated 1,672
Solutions
Undisclosed
Nantwich
Former Burgess Unit,
Nantwich
Poynton
25
Retail
It was a quieter year for the retail sector with more
emphasis on planning for new development than
planning fit outs for new occupiers. The number of
deals and retail floorspace involved more than halved,
moving back to a level more commensurate with the
first property report in 2011. The activity that did occur
was pretty much evenly spread across the borough’s
principal settlements.
Foodstore operations continue to be sprinkled amongst
the deals. Morrisons took space for its ‘M’ small store
format in Macclesfield. Waitrose leased 11,300 sqft
(1,051 sqm) in Knutsford and Marks & Spencer Simply
Foods occupied 15,000 sqft (1,394 sqm) in Nantwich.
The length of leases in the retail sector continues to
be at odds with other property market elements.
Unlike the offices and industrial sectors, where lettings
are increasingly five years or less, the retail deals
reported do for the most part indicate terms of ten to
twenty five years.
The market share of online retailing continues to
grow and no better illustration of the impact can be
given than the rise and rise of Macclesfield-based
Entertainment Magpie.
Since forming in 2007 the company has changed the
way customers unlock the value of goods that are just
lying around their homes, making the selling of goods
online as easy as it is to buy something. The company’s
latest projections suggest sales will be more than
£100 million by the end of 2013. From 145 staff in
2010, the company now employs more than 700.
The high streets of Cheshire East recognise they must
change and innovate in order to compete effectively
against online retailing for their share of the retail
marketplace. For example Crewe, Sandbach, Alsager
and Macclesfield have been able to access a support
package prepared by the Association of Town Centre
Management as part of the ‘Town Team Partners’
initiative.
The package aims to promote shared learning and
best practice with the help of retail experts and other
town teams from across the country. In addition
each is receiving £10,000 as seed capital to help
towards putting some plans into action.
For the All Change for Crewe town team the aim is to
achieve better wi-fi coverage in the town centre, which
it is believed will generate higher footfall and enable
better access to information on events, attractions
and retailers. Research shows that Crewe town centre
is already bucking the national and indeed North West
regional trend of declining footfall on Britain’s high
streets. 2012 footfall figures peaked at a 27 percent
increase above levels two years ago.
The All Change for C
coverage in the town
The Cheshire East town of Middlewich has already taken
its destiny into its own hands, and as such has been
hailed as a national example of excellent innovation by
a market town, winning an Action for Market Towns
award for its initiatives which include the adoption of
the Love Local Life card scheme, which was developed
with the support of Cheshire East Council across a
number of its towns. This is an imaginative loyalty card
involving a number of businesses that offers savings and
encourages a ‘buy local’ approach.
26
Crewe town team aims to achieve better wi-fi
n centre
The largest, and arguably most significant, retail
proposals coming forward during the year were those
of Wilson Bowden, who have submitted revised plans
for the redevelopment of Macclesfield town centre.
Its plans for the £90 million, 200,000 sqft (18,580 sqm) Silk
Street development include a Debenhams department
store as an anchor, along with nineteen high street shops,
a cinema complex, restaurants and multi storey car park.
The scheme will mean 800 jobs being created within the
development. A decision on planning is due Spring 2013,
with Wilson Bowden stating they already have strong
interest from a number of retailers who have an appetite
to invest in the town.
In Sandbach, developer Muller submitted a planning
application, which was subsequently rejected, for the
proposed £40 million Old Mill Quarter which includes a
40,000 sqft net food store with petrol filling station;
a 50,000 sqft garden centre; drive-through restaurants; a
62-bed Premier Inn Hotel; Marston’s pub and up to 25,000
sqft (2,300 sqm) of trade counter business units. The site
adjoins Sandbach’s only other main supermarket, Waitrose.
Recent research has established that almost half the local
residents travel out of town to do their weekly food shop,
and only a quarter of comparison shopping is retained in
Sandbach. The combined losses of retail spend out of the
town is estimated to be £80 million a year.
Plans have also been submitted for a proposed Next Home
and Garden Store on land owned by Cheshire East Council
next to Handforth Dean Retail Park. The proposals
comprise a three-storey freestanding retail unit with a
single storey conservatory and garden centre attached.
The 82,000 sqft (7,600 sqm) building will provide a store
for the sale of Next fashion items alongside a range of
home and garden products. The project represents a £10
million capital investment. As evidence that the times they
are a-changing, the community engagement programme
for this proposal included Facebook and Twitter campaigns
which achieved 2,200 ‘likes’ and followers.
Also at Handforth Dean, Marks & Spencer opened the first
of its new in-store bank branches in the region. Having
been in financial services for 27 years through M&S Money,
the move to current accounts and banking was seen by
Marks & Spencer as a natural thing to do.
27
28
Retail Deals 2012
(£/sqm)
(m2)
(years)
Vendor/
Landlord
Purchaser/
Tenant
Metric Property
Investments
Brantano
375
202.00
10
Cheetham &
Mortimer
97 Earle Street
D McMahon
Courtesy Shoes
Ltd
390
64.10
10
Buckinghams /
Mason Owen
26 Market Street
Mellawood
Properties Limited
Cheque Centre
222
117.12
10
Bradys / Whitelaw
Baikie Figes
Princess Street
Holdings Ltd
Waitrose
1,051
133.20
25
Cheetham &
Mortimer
WM Morrison Plc,
Hope Park
Keyworker Homes
Ltd
WM Morrison
418
139.95
15
The Fallows
Consultancy /
Cheetham & Mortimer
Churchill Way
Private Landlord
Sue Ryder Care
277
108.30
Hallams Commercial
& Residential
Surveying Services
Ground and 1st, 150 154 Hurdsfield Road
Private Landlord
Extreme Security
Limited
221
88.24
Roberts & Roberts
Keyworker Homes
Marks & Spencer
Simply Foods Ltd
1,394
126.00
Alderley Road
Investments
Private Tenant
524
Undisclosed
Address
Agents
Congleton
Unit D, Congleton
Retail Park
Crewe
Knutsford
28 / 30 Princess Street
Macclesfield
Nantwich
Beam Street
20
The Fallows
Consultancy /
Cheetham & Mortimer
Wilmslow
47-49 Alderley Road
Tushingham Moore
29
Residential
As house builders continued to ramp up activity to capitalise on the
lack of a five-year residential land supply, Cheshire East Council
consulted on a revision to its planning policy for the release of land for
new housing developments.
The proposed revised interim planning policy continues
to focus new development on suitable greenfield
sites around Crewe, to support the planning population
growth from 83,000 to 100,000 in the next twenty
years. However the revision to the policy now also looks
to allow for the release of small sustainable sites on the
edge of other towns in Cheshire East, where it will not
prejudice the identification of larger strategic
development sites.
Amongst sizeable new residential proposals, Bellway
Homes announced plans for 149 units in Middlewich;
Jones Homes began pre-planning consultation for a
scheme of 175 homes in Handforth, a site identified in
the Town Strategy Consultation and developer-investor
Himor revealed its concept for 1,100 homes as a
residential extension to the south of Crewe that would
combine with Basford East and Basford West to form a
new strategic southern gateway for the town.
And in a move to counter what it sees as opportunistic
housing development the Council went public to explain
its lobbying position with Government about unplanned,
unwanted and unsustainable developments ahead of
the release of Cheshire East’s Core Strategy in mid-2013
which will push for growth at defined key strategic
locations. This followed high-profile decisions by the
Government to overturn planning refusals for
developments at Congleton and Shavington, near Crewe.
Himor’s Gresty Oaks proposal is a response to Crewe’s
Draft Town Strategy, which anticipates a need for
3,300 new dwellings to be accommodated in extensions
to the town.
2012 has seen an increased level of land acquisitions
for housing proposals across the North West. Cheshire
East was no exception. Alderley Edge-based property
investment and development company Bluemantle
sold 20 acres (8 ha) of the former Fison’s plant at
Holmes Chapel. Bellway Homes paid £13 million for
a site where Bluemantle had already secured outline
consent for 230 homes as part of a mixed use
development for the whole of the former Fison’s factory.
The number of dwellings involved has increased by 15
percent in the last year. Almost half of all the dwellings
are associated with sites in or around Crewe. Another
quarter are linked to four sites in Sandbach.
Bluemantle also agreed the sale of 13 acres (5.3 ha)
at the Fibrestar Drums site in Disley for a sum in excess
of £8 million. Having secured planning for up to 130
homes, Fibrestar will relocate to enable Persimmon
Homes to take forward the site’s development.
At Tytherington Ainscough Strategic Land acquired
17 acres (6.8 ha) from Allied Irish Bank, with a view
to pursuing consent for a change of use to housing.
The site already has an established consent for a hotel
and office space.
The future supply of housing, monitored in terms
of developments of more than 100 units to be
completed in the next five years, comprises 330 acres
(133.5 ha) of land and 3,580 dwellings.
Whilst numerous developers put plans in place
during the year, other house builders put bricks in
place confident that sales will be secured. One of
these was Arley Homes who began construction
of 21 new homes in Nantwich, having already sold a
fifth of them off plan at prices ranging from £189,950
to £380,000.
However, in contrast to previous years’ reporting, only
two housing schemes, one in Congleton and one in
Handforth saw more than thirty units completed.
Indeed the total completions for the borough in 2012
were only 636 units, a figure some 40 percent below
the annual average for the last decade and the second
lowest during this period.
31
Housing Completions 2004-2012
(Net completions)
2004
2005
2006
2007
2008
2009
2010
2011
2012
Total
Completions
1,264
1,287
1,498
1,295
1,365
741
634
762
636
9,482
Affordable
-
-
182
123
243
319
334
233
118
1,552
Source: CEC, 2013
Major Housing Schemes 2012
(30 Units plus completed)
Scheme
Settlement
Housebuilder
Total Gross
Area, ha
Units
Completed
2012
195, 197, 199 Wilmslow Road
Handforth
McCarthy & Stone
0.41
40
Bath Vale Works
Congleton
Bovis Homes
9.96
34
Source: CEC, 2013
32
Future Supply of Housing
Future dwelling completions greater than 100 units in the next five years
Settlement
Housebuilder
Total Gross
Area, ha
Supply of
dwellings up to
2017
Coppenhall East, Remer Street
Crewe
Taylor Wimpey
24.94
650
Land North of Parkers Road,
Leighton
Crewe
Bloor Homes and
Linden Homes
14.84
400
Sandbach
Countryside Properties
7.83
375
Shavington
McTaggart & Mickel
18.69
360
Former Fodens Factory, Moss Lane
Sandbach
Barratts /
David Wilson Homes
10.15
244
Queens Drive
Nantwich
Gladmans
9.89
240
Holmes Chapel
Bellway Homes
8.00
224
Maw Green Farm
Crewe
Richborough
10.01
165
Fibrestar Site, Redhouse Lane
Disley
Persimmon
5.27
160
Holmes Chapel
Westbury Homes
4.18
160
Stapeley Water Gardens
Nantwich
Stapeley Water
Gardens Ltd
4.65
146
Former Fodens Test Track,
Moss Lane
Sandbach
Persimmon
3.28
120
Haulage Depot, Gunco Lane
Macclesfield
Emerson Group
Jones Homes
2.45
124
Land to the East of Larkwood Way,
Tytherington
Macclesfield
Emerson Group /
Jones Homes
5.20
100
Sandbach
Bellway
4.15
111
Scheme
Albion Chemicals,
Middlewich Road
The Triangle
Former Fisons Site, London Road
Victoria Mills, Macclesfield Road
Land bounded by Canal Fields,
Rookery Bridge and Hall Lane,
Moston
Source: CEC, 2013
33
Strategic Developments
Cheshire East has a unique position on the national road
and rail infrastructure, and is viewed as a gateway between
the North and the Midlands.
Major announcements of secured investment to
upgrade and enhance this infrastructure ensure
that connectivity will continue to be a driver of
growth within the Cheshire East area.
These include major highways schemes at Crewe
Green Link Road (Crewe), the M6-M56 link (north
of Knutsford), and improvements to the road
network around the north of the borough as part
of the SEMMMS programme. Over the past 12
months the Council has played a leading role in:
•
Positioning Crewe on the proposed High
Speed 2 network, enabling connections onto
it from the West Coast mainline and reducing
travel times to and from London to just under
an hour, eight times an hour.
•
Securing £4.1m Regional Growth Funding
to deliver the 2.2 km Middlewich Eastern
Bypass, which will open up the third phase of
the Midpoint 18 employment site.
•
Commencing work on a £6m overhaul around
Crewe station, including a new 240 space car
park , new commercial units and public access
from Weston Road.
•
Securing £11 million ‘Pinch Point’ funding to
improve Junctions 16 and 17 of the M6
motorway, to improve accessibility to Crewe
and Sandbach, and a further £2.7m towards
the costs of the Basford West spine road.
•
Contracting with BT to roll-out superfast
broadband across the sub-region as part of
a £28.5m project that will ensure faster
internet access for 96 per cent of businesses
and residents over the next three years.
To build on these achievements, a new
Development Company, The East Cheshire Engine
of the North, is being formed by the Council to
further accelerate the growth agenda using the
Council’s strategic land assets to promote housing
and jobs growth.
The Council has significantly strengthened its
talent pool by bringing in a new Development
Executive and Senior Development Surveyors to
lead delivery in this area.
As part of this approach, housing-led development
proposals are being advanced at a number of
locations in the borough where the Council has
land assets, including at Handforth East, Leighton
Green (Crewe) and South Macclesfield
Development Area.
In 2012, the Council also published its draft
Development Strategy, as part of its Local Plan
proposals. The Local Plan will form the basis of
planning decisions until 2030 and will contain
planning strategy, policies and site allocations,
including how much land is needed for housing,
employment, retail and leisure uses.
The Cheshire East Project Pipeline, identified in
the new Investment Plan, sets out projects which
have the potential to deliver almost 17,000 new
homes (as part of its provision for up to 27,000
new homes) and more than 34,000 new jobs.
The emerging Local Plan builds on recent
funding announcements and the regeneration
programmes already underway, particularly
in Crewe and Macclesfield. In Crewe, revised
plans are coming forward to deliver the vital
Basford East and West employment sites,
which are gaining momentum on the back of
announced infrastructure improvements.
In Macclesfield, the Council has invested heavily
in public realm improvements to the town
centre, particularly around the Market Place
and Chestergate. It also continues to play a
key development partner role in the Wilson
Bowden’s proposed £90m, 200,000 sq ft Silk
Street development which includes a Debenhams
department store, 19 high street shops, an
eight screen cinema complex, restaurants and a
multi-storey car park.
However, given that Cheshire East does not have
a single town that dominates the borough, and
that different towns have their own distinctive
character, the core principles of the Local Plan
recognise this.
34
These are to:
•
concentrate development in Crewe and
Macclesfield, as the two largest towns. This
development is necessary to support Crewe’s
regeneration and Macclesfield’s revitalisation.
•
development of the medium sized towns
linked to their distinctive needs. Those in
the north of the borough will accommodate
less development recognising Green Belt
constraints.
•
enable up to three new planned settlements
at Handforth, Crewe Hall and Barthomley to
avoid loading development onto the edge of
existing constrained settlements.
•
significant new employment areas at
asford (Crewe); Radway Green/ Junction
16 (near Alsager); Junction 17 (Sandbach);
Middlewich, North Congleton, South
Macclesfield and Wardle.
Acknowledgements
Ashtenne
Lamont Commercial
Bluemantle
Legat Owen
BNP Paribas
Bruntwood Estates
Magnus
Mason and Partners
Canning O’Neill
Carter Jonas
Mason Owen and Partners
CBRE
Matthews and Goodman
Cheetham and Mortimer
Mellor Braggins
Christopher Dee
Mowbray Gill
Colliers
Muller
Cushman and Wakefield
Nolan Redshaw
Davies Harrison
OBI Property
Deloittes
DTZ
Orbit
Edward & Co
Pochins
Edward Symmons
Quorum Estates
Gladman
Sanderson Weatherall
Goodman
Savills Commercial
Greenham Commercial
Strutt and Parker
GVA
Jones Lang LaSalle
Keppie Massie
Taylor Wimpey
Tushingham Moore
Knight Frank
WHR Property Consultants
Lambert Smith Hampton
Williams Commercial
BE Group is a property Agency, regeneration and planning consultancy and has over 30 years experience of working in the
Cheshire and Warrington commercial property market.
This report has been carefully prepared. However it is for general guidance only and Cheshire East Council, Marketing Cheshire
and BE Group cannot guarantee that there are no errors or omissions. The information, forecasts and opinions set out herein
should not be relied upon to replace professional advice on specific matters. No part of this report should be published,
reproduced or referred to without the prior permission of the above organisations.
Cheshire East – Jacqueline Wilson [email protected]
Marketing Cheshire – Barrie Kelly [email protected]
Cheshire & Warrington Local Enterprise Partnership - Aidan Manley [email protected]
in partnership with
Produced by

Cheshire East Annual Property Report 2013

Transcription

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