SPECULATIVE PROJECT REFLECTS BRIGHTER ECONOMIC CLIMATE
Plans for a 90,000 sq ft industrial development at Works Road, Letchworth have been submitted to North Hertfordshire District Council by the UK’s leading regeneration specialist St. Modwen.
In a significant step for the region as a whole, the developer is planning to speculatively build three new commercial units, signalling renewed confidence in the town’s economy and prospects for growth.
Letchworth Industrial Estate will be on the site of the former Letchworth Power Station, providing modern business space in the town which is expected to provide in excess of 100 new jobs.
The 4.5 acre site sits in the heart of Letchworth’s existing industrial area and was cleared in 2006. The proposals are designed to suit companies looking to expand as the regional economy returns to growth, offering units from 30,000 sq ft.
Gary Morris, Senior Development Manager at St. Modwen said that the new units were needed to meet demand in Letchworth and Hertfordshire as whole:
“This proposed development reflects the changing requirements of businesses in the region which are looking for larger units to accommodate their growth plans.
“We’re extremely encouraged by the market as a whole and this kind of speculative build means we can get going much quicker on bringing new companies and jobs to Letchworth.”
John Lewis, Chief Executive of Letchworth Garden City Heritage Foundation said: “It is encouraging to see this investment in Letchworth Garden City. The new industrial estate will enhance our offer and provide excellent facilities for businesses to grow and develop in the town.”