Network Space secures funding for major new scheme

Network Space has secured a £1.8m investment from the Liverpool City Region Combined Authority Single Investment Fund to develop a major scheme near Kirkby.The news paves the way for the next phase of development at Network Space’s 30-acre Alchemy industrial estate. The commercial property business has secured planning permission and funding to create a new industrial workspace phase called Element, which totals 103,000 sq ft, alongside outline approval for a further 150,000 sq ft in later phases on the remaining land.The development, which is located directly off the A580 close to junction 4 of the M57, includes three new workspace units of 22,000 sq ft, 35,000 sq ft and 46,000 sq ft which Network Space will now bring forward speculatively with a start onsite expected in late 2017 followed by completion in the autumn of 2018.This latest phase of development will complement the fully occupied first-phase development, which totals 100,000 sq ft but comprises smaller units ranging between 6,000 sq ft and 12,000 sq ft. Occupiers at the site already include National Grid, Lombard Shipping, Smith News, Autex, Northern Print and Greenbridge Technologies.Network Space’s proposals secured planning consent earlier this year.Network Space, which is headquartered in Newton-le-Willows, was formerly known as Langtree until a rebrand in 2015. The group directly owns and manages an investment portfolio of more than 3 million sq ft of modern industrial and office developments across 58 locations with a combined value of more than £140m.