Successful Coombs Wood development creates more than 1’000 jobs

Another phase of development by St Modwen of the 46-acre Coombs Wood Business Park, Halesowen, has just been completed.

Two of the units in the 13,000 sq ft phase of small offices, Coombs Wood Court, have been sold to local firms. Eurofreight Shipping Agencies Ltd has acquired 2,050 sq ft and JPM, general insurance and independent financial advisers, bought 2,110 sq ft premises for its expansion programme.

The deals exceeded a total of £650,000 and the whole phase has a value of more than £2 million.

Ian Romano of St Modwen, said: ³Another 5,300 sq ft unit is under offer, leaving just a 3,500 sq ft unit available.

³A total of 485,000 sq ft of office and industrial accommodation has been developed on the park which has proved a great success in attracting local, regional and national companies. Over 1,000 jobs have been created or safeguarded.²

Andrew Windsor, financial services director of JPM, said the firm had been looking to relocate and he was immediately impressed by the design and layout proposed at Coombs Wood.

³The deal was struck and the countdown began. The project was delivered on time and with the minimum of fuss. We were able to move in on the day agreed and are now proud owners of modern offices that will allow the business to achieve its full potential.²

Prior to St Modwen¹s involvement, Coombs Wood, the former Corus steelworks site, had lain disused for many years. The site needed major reclamation carried out in part with the assistance of a grant from Advantage West Midlands.

Anthony Glossop, chairman of St Modwen, said: "It is a real pleasure to see the results of many years' effort create a thriving trading estate where once there had been dereliction."

Atisreal and Bedhall Dixon are joint agents on the scheme.

For further information contactIan Romano of St Modwen (0121 222 9400).
Issued by Paul Raymer of Howle Chapman Raymer (0121 313 1000).