St. Modwen, the UK’s leading regeneration specialist, and the owner and developer of Quedgeley West Business Park has appointed Alder King to support its expansion plans for the £42 million development. The Gloucester office of Alder King will join ASH & Co to market Phase 4, the final phase of the scheme, which is situated four miles south west of Gloucester.
Phase 4 comprises eight acres of land, which will provide accommodation for design and build units ranging between 10,000 and 100,000 sq ft on a rent or sale basis. The wider 32 acre site already has outline planning consent for storage and distribution.
To date, over 320,000 sq ft of industrial and distribution space has been leased or sold at the Business Park to seven occupiers, including Prestoplan, CM Downton and City Link. When complete, the scheme will create an estimated 500 jobs locally.
The launch of Phase 4 of development follows the completion of a £1.9 million deal between St. Modwen and Advanced Insulation Plc last year, which involved the company relocating its head office to the site and creating an additional 30 new jobs through the move.
Rob Skelston, Development Director for St. Modwen in the South West, commented: “We have appointed Alder King given their local, regional and national reach, which corresponds well with the profile of occupiers we are seeking to attract to the Business Park.
“Quedgeley West’s central location has made the scheme an attractive opportunity for a range of distribution and manufacturing occupiers within our first three phases of development. Our commitment to launching the fourth phase of development shows our confidence in the scheme’s ability to meet the requirements of occupiers.”
Adrian Rowley, Partner of Alder King’s Gloucestershire office, commented: “We are witnessing an increase in the general level of interest in design and build opportunities in the region, driven by the lack of available standing stock as well as the desire of businesses to occupy purpose built space.
“We often find that existing stock does not meet the requirements of our occupiers, however, Quedgeley West clearly has a proven track record in meeting these demands and we look forward to working on completing this final phase of development.”
Rob Smith from Ash & Co in Gloucester, commented: “Despite tough market conditions, Quedgeley West has continued to attract occupiers due to its strong transport links to all major motorways and well managed and landscaped environment. We expect improvements to junction 12 of the M5 to further enhance the connectivity with all routes from the site making the scheme even more attractive to potential occupiers.
Quedgeley West Business Park is one of four sites owned by St. Modwen in Gloucestershire. The company is also developing Littlecombe Business Park and Gateway 12 at Waterwells Business Park and manages its existing Quedgeley East Business Park adjacent to Junction 12.