BDC

Schroder REIT appoints Caddick Construction to deliver first Net Zero Carbon in operation warehouse development in the North West

Stanley Green view 01

The North West office of family run business, Caddick Construction, has been appointed by Schroder Real Estate Investment Trust (“SREIT”) to deliver eleven warehouse units at SREIT’s Stanley Green Trading Estate (“Stanley Green”) in South Manchester.

The new units will have a GDV of approximately £22.5 million and will deliver a further 80,000 sq ft of trade counter space on a 3.4 acre development site adjacent to the existing estate. The development will, on completion, be the first Net Zero Carbon in Operation industrial scheme in the North West and will also be delivered to BREAAM Excellent certification with an EPC A+ rating. Stanley Green currently provides 150,000 sq ft of warehouse space and is 100% occupied by a mix of regional and national trade occupiers including Howden Joinery, Screwfix, Toolstation and Apex Self Storage.

Occupying a prime location near Cheadle, at the junction of the A34 and A555, Stanley Green benefits from the Ringway Road upgrades, which provide easy access to Manchester City Centre, Manchester airport and the M60.

The Caddick Construction team started on site early May 2022, with completion expected in late December 2022. Alongside the new warehouse units, the development will include a new access road, car parking and landscaping.

Ian Guildford, construction manager at Caddick Construction, commented “This development will deliver much-needed additional trade counter space. The experienced team is looking forward to starting the project and delivering a highly sustainable expansion at this popular regional industrial hub.”

Philip Scott, Fund Manager at Schroders, said “Delivering the next phase of Stanley Green Trading Estate is a key milestone in the business plan and is the latest demonstration of our commitment to sustainable investment. On completion, the Net Zero Carbon scheme will be one of the greenest assets both within the SREIT portfolio as well as the region.”

PRC Group is the architect and Gerald Eve is the planning consultant. 

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BDC 301 February 2023