Construction on a new £26 million industrial and commercial park at Chorley’s historic Botany Bay site will begin this month. When completed, the project will include 33 units for light industrial and commercial use spread across 405,000 square feet, as well as a drive-thru food outlet.
FI Real Estate Management (FIREM) obtained planning permission from Chorley Borough Council for the development in July 2022. It will be the largest ever created by its construction arm, FI Construction.
FIREM controls more than £1 billion in assets. The founder and managing director Tim Knowles described the Botany Bay development as one of the most significant in the company’s 40-year history. “We want to establish the highest quality commercial and industrial space. This is for local businesses as well as those from further afield who want to call Lancashire home,” Tim said. “Botany Bay is a landmark location, and the development will be constructed in two stages.” The construction costs for phase one will be £26 million. Additionally, fit-out costs will add an estimated 10% to the total bill.
“We’ve already expanded our FI Construction arm significantly to deliver it.” We’re also fully committed to providing additional training and job opportunities to local residents. This is as well as seeking new supply chain partners from across Lancashire. This will ensure FIREM’s investment benefits the local economy.”
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Botany Bay project to provide modern facilities for more businesses to relocate there
The Group employs 300 people and plans to hire a further 100 as part of its growth strategy. “It’s great news that work has begun on site at Botany Bay,” said Councillor Alistair Bradley, Leader of Chorley Council. It is a critical site for the borough because it will not only create new jobs but will also provide modern facilities for existing Chorley businesses to grow into and opportunities for businesses to relocate here. As a council, we are doing everything we can to stimulate growth, but it is equally important for us to see private investors helping to make Chorley a better place to do business, and this is a great example of that.”
Once completed, the new development will offer units designed specifically for light industrial use. Unit sizes will range from 1,000 to 164,000 square feet. Botany Bay is part of FIREM’s growing pipeline of new build projects across the UK, which will total 5 million square feet over the next four years. It joins FIREM’s already sizable UK commercial property portfolio, which now exceeds 10 million square feet.
