ALL UNITS TAKEN AT HENLEY BUSINESS PARK AS ST. MODWEN ANNOUNCES NEXT PHASE OF DEVELOPMENT

Following a successful run of lettings, one of the South East’s leading business parks is now 100 per cent let. St. Modwen, the UK’s leading regeneration specialist, has announced a new deal with international drinking systems provider Tana Water UK at its 96,000 sq ft Henley Business Park near Guildford, bringing to a close the first phase of development at the site.

The deal with Tana Water to take a 5,500 sq ft unit means that 41,000 sq ft of space has been let at Henley Business Park in the past nine months, underlining the Park’s reputation as one of the most popular business destinations in the area. Other companies to recently take space include luxury design specialist evitavonni and oil exploration specialists Kirk Petro Physics. The success is testimony to the exceptional quality of the units, its woodland setting and the strategic location of the site.

With full occupancy at the site, St. Modwen is set to commence the next phase of development at Henley. St. Modwen secured reserve matters planning permission in 2009 for an additional 225,000 sq ft of floor space at the adjacent Henley Industrial Estate. The Estate currently comprises a managed complex of value for money accommodation created from the conversion of the former Vokes Factory. Further details about the expansion will be announced later this year.

Nick Kay, development director at St. Modwen, said: “Full occupancy at Henley Business Park is a vote of confidence in the West Surrey economy and we have exciting plans for further expansion. We hope to kick off this next phase of development in October 2011. We have geared up lease expiries within the existing complex around this date. We are now in the process of obtaining demolition quotes and arranging new electricity capacity to the site.”

Henley is a key part of St. Modwen’s growing and successful industrial portfolio in the South East, which includes the 30-acre former Ford factory in South Ockendon - also 100 per cent let - as well as the 10-acre Woodingdean Business Park in Brighton and the 47-acre Eastleigh Rail Works in Hampshire.