Two high quality industrial and warehouse buildings have just been completed by by St. Modwen, at Henley Business Park at a time when available space is at its lowest for 12 years.
The speculatively built units provide accommodation of 20,800 and 34,000 sq ft. The latter unit is capable of sub division from 12,400 sq ft.
They are the third phase of Henley Business Park, which has detailed planning consent for a further 135,725 sq ft of new B1, B2 and B8 floor space.
St. Modwen is ready to start work on two more speculative builds of 23,000 and 27,000 sq ft as soon as these buildings are occupied.
All this comes as a report from JLL warns that availability of industrial and distribution space in the Western Corridor is at its lowest point since 2003. The Western Corridor Industrial and Market Report concludes that this is a result both the pick-up in demand for modern space and limited new speculative development – making the buildings by St. Modwen even more of an opportunity.
Development Director at St. Modwen, Nick Kay said: “The message has to be ‘move quickly’ to secure these fantastic buildings. The amount of available space is falling, Henley Business Park is the proven location of choice for business in Surrey, so this opportunity is not something to be passed up on.”
At 20 acres, Henley Business Park is the largest industrial regeneration project in West Surrey. It was established during World War II as an armaments factory by Vokes Ltd and the company maintained a presence there until the site was acquired by St. Modwen in 2002.
The first phase of regeneration comprised 100,000 sq ft of commercial floor space on expansion land adjoining the old Vokes factory. In 2011 the old factory, which St. Modwen operated as a value for money estate was demolished to enable more new build development. This has included a £3 million building for ALS Petrophysics and a 42,000 sq ft bespoke depot for Meridian Metal depot the UK’s largest independent steel stockholder, which is now fully operational.
Henley Business Park could provide employment for nearly 500 people when the site has been fully developed. The joint letting agents for St. Modwen on Henley Park are David Bowen of Wadham & Isherwood and Tim Clement of JLL.