St Modwen Developments Ltd, the development subsidiary of St Modwen Properties PLC, has sold a 929 sq m (10,000 sq ft) industrial unit to the newly formed Team Foggy Racing Ltd on Stretton Business Park, Burton-on-Trent..
The motor cycle racing team, Foggy Petronas Racing, was set up by four-times World Superbike champion Carl Fogarty, who retired from competitive racing in 2000.
The industrial unit is the first one sold in the 4,134 sq m (44,500 sq ft) scheme of nine units which range in size from 232 sq m (2,500 sq ft) to 1,254 sq m (13,500 sq ft). St Modwen is offering the units for sale or to let through its letting agent Rushton Hickman Partnership. Prices range from £52 to £55 per sq ft according to size.
Mark Day of St Modwen said: “There are very few speculative newly built industrial units in Burton. Interest is very strong in the remaining units as the area is lacking in opportunities for companies to expand into modern premises.”
Sue Taylor, special projects manager for Foggy Petronas Racing, said that Stretton Business Park was chosen for the team’s base because of its proximity to Midlands’ race circuits such as Donington Park and Silverstone.
For further information contact Mark Day of St Modwen on 0121-456-2800. Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771).