Network Space Developments has agreed on a presale of the £54m Glass Futures development at Saints Retail Park in St Helens to a subsidiary of Abrdn.
Standard Life Investments Property Income Trust will take over the site, which closed in the late 1990s and was formerly known as United Glassworks. It was developed in part by Network Space as a new stadium for St Helens Rugby League that opened in 2011.
Bowmer + Kirkland was appointed by Network Space to transform the site into the glass research and innovation facility. The construction works on the 165,000 sq ft site are expected to start in January 2022 and complete after one year.
The facility has been prelet to St Helens Borough Council on a 15-year head lease and will be sublet to Glass Futures which will occupy and manage the building.
Steve Rotheram, mayor of Liverpool City Region, said: “The green industrial revolution will bring a lot of jobs, investment and opportunities; I want us to attract as much as possible to the Liverpool City Region. Projects like Glass Futures will help give us the track record to keep attracting other exciting new businesses.”
Property agents B8 acted for Network Space, with CBRE advising Abrdn.
To send feedback, e-mail evelina.grecenko@eg.co.uk or tweet @Gre_Eve or @EGPropertyNews
