The first half of 2023 followed on from a strong 2022, and now we are looking at a market which is settled into a sustainable and reliable pattern.
The rush for space seen during the pandemic has barely slowed and leasing levels are set to continue progressing over the rest of the year. The most desirable spaces will be those in high activity areas with the most economic potential. Properties in these areas which can provide state-of-the-art facilities which are sustainable and accessible will be like gold dust.
With that in mind, we are delighted to announce the launch of brand new spaces at our Botany Bay site in Chorley. This development is in the heart of the North West, and the amount of investment and activity in the region suggests that industrial sites like Botany Bay are perfectly placed for businesses looking to locate themselves in a booming market.
Botany Bay is just a 20-minute walk (or a four-minute drive) from the centre of Chorley and its train station which provides regular connections to Preston, Bolton and Manchester.
This is the most significant population and talent cluster in the North West, and one of the leading areas of the country for innovation, investment and growth. For businesses, this represents and invaluable resource and an unmissable opportunity.
Businesses located here are in prime position to benefit from the economic revolution that is underway. Foreign Direct Investment (FDI) has targeted the North West heavily in recent years with a huge amount of money pouring into the region to unlock its abundant economic potential.
2022 saw a 19% increase in the number of FDI projects in the region, and the North West’s overall share of FDI grew by 9.5% in 2022, with an overall increase in the number of live projects of 19%. Across the last financial year, the North West welcomed 137 new FDI projects and the 5,820 new jobs they brought with them.
Minister for Investment, Lord Johnson, said the figures “confirm investors are looking beyond London and the South East as they search for high growth opportunities with highly skilled workforces. These investments are also supporting our strongest industries and creating the jobs of the future, from aerospace and car manufacturing to financial services and tech.”
This success has been matched by ongoing domestic investments. £590m of the government’s Levelling Up Fund and Community Ownership Fund has been allocated to the North West for town centre regeneration, transport upgrades, cultural investment and more.
Additionally, February 2023 brought the news that more than 2,000 government roles were being moved from London to the North West in a substantial government shake up – more than any other region. This is a major change for the region that is expected to bring a multi-million-pound economic benefit instantly and much more in the future.
The North West is also welcoming 17 new Net Zero projects which are set to create more than 900 jobs – another demonstration of the region’s industrial and manufacturing strength. As that investment and others like the £20bn HyNet project begin to pay off, sites like Botany Bay will only become more desirable.
The state-of-the-art facilities at our latest North West industrial development provide everything a business needs to thrive, right at the heart of one of the UK’s biggest economic booms.
This is also a development that is built with the future in mind. An EPC rating of A has been targeted, along with a BREEAM ‘Very Good’ rating so you can be assured that you are choosing a sustainable, future-proof option that will help you meet you ESG obligations.
From start-ups to large corporations, botany bay will create a mixed community of businesses, brimming with ambition. The site has been redeveloped with high-spec features and amenities to set our occupiers up for success – and all just over one mile away from Chorley and with easy access to the M61.
The new units at Botany Bay are scheduled to be completed in 2024 so get in touch with the team today for more information and to express interest by clicking here.
