Construction has started on the next phase of the Airfields industrial park in Flintshire, a £30m investment by developer Marshall CDP.
The speculative 193,500 sq ft Stealth scheme will provide six warehouses ranging from 12,000 sq ft to 57,000 sq ft. The units are being marketed for acquisition and leasing, and there is already strong market interest.
Planning permission and design-and-build options
Alongside the new units, the site also benefits from planning permission for 211,000 sq ft and 134,000 sq ft single units, available on a design and build basis for occupiers.
The Stealth scheme is set to be completed in the second quarter of next year.
Investment zone incentives
Airfields is located within the Flintshire and Wrexham Investment Zone, which provides occupiers in the advanced manufacturing sector with access to a range of incentives including business rates relief, enhanced capital allowances, and NIC contributions. The investment zone will receive £160m from the UK Government, supported by the Welsh Government, over the next decade.
Dave Hughes, leader of Flintshire County Council, said: “It’s fantastic to see Marshall CDP continuing to invest in Deeside with this significant new phase of development at Airfields. This scheme demonstrates the confidence that investors have in Flintshire’s economy and reinforces Deeside’s position as one of the region’s leading locations for advanced manufacturing. I look forward to seeing the positive impact this investment will bring to Flintshire in the years ahead.”
Wider site development
The Stealth development represents the next chapter in Marshall CDP’s long-term commitment to Airfields, following a series of key milestones on the wider scheme where a pre-let of 104,000 sq ft to Leviat was secured on their development of plot D comprising 3 units of 180,000 sq ft. The scheme was subsequently sold to Leftfield Partners.
The wider site is also home to an Amazon regional distribution centre and a recently completed new papermill from ICT. It also has retailers including Aldi and Home Bargain which will also service the near 1,000 new homes being built on site.
Simon Marshall of Marshall CDP said: “We are proud to continue their strategy of building out best in class industrial units across the UK. With the site now being allocated as an investment zone we are confident of securing deals on the existing scheme in the coming months with a number of on-going discussions with occupiers on this exciting scheme.”
Airfields, Deeside is jointly marketed by B8 Real Estate and Legat Owen.
Jon Thorne, director at B8 Real Estate, said: “Marshall CDP’s decision to speculatively build out this scheme reflects real confidence in the local market. There is a recognised shortage of grade A industrial accommodation in the area, and this development directly addresses that lack of supply. Critically, it also gives local businesses the opportunity to purchase their own unit something that hasn’t been possible in this market for a considerable period of time.”
