NEW TENANT SEALS SUCCESS OF ST MODWEN’S 23 ACRE GREAT WESTERN BUSINESS PARK IN WORCESTER

Thompsons Discount Electrical will relocate to St. Modwen’s £10 million Great Western Business Park in Worcester, following the completion of a deal to let a new 8,500 sq ft warehouse unit on a 10 year lease.

The first completed phase of St. Modwen’s 23-acre Great Western Business Park comprises a total of 18 high quality industrial and storage units ranging in size from 2,218 sq ft to 23,468 sq ft. Following a succession of deals at the business park, 13 of the completed units are now either let or sold and one is in legals, resulting in just four units currently available to let or for sale on flexible, competitive terms.

Julie Rossiter, senior asset manager, St. Modwen comments: “Thompsons Discount Electrical recognises that efficient, well-located space is an important asset for any business and it has invested in a quality new unit at Great Western Business Park to accommodate its future growth.

“The retailer aims to offer value for money to consumers while retaining a competitive position within a challenging marketplace. It therefore works directly with manufacturers to bulk buy products and the nature of its warehousing and distribution space is of paramount importance in terms of storage, the fulfilment of website sales, and the provision of an effective ‘collect and pay’ service.

According to Richard Tomlinson of agents Halls Commercial, the success of Great Western Business Park has been sealed by a raft of deals completed throughout 2010. He says: “Over recent months, we have seen availability become increasingly limited at the business park as interest in the quality new industrial/ storage units continues to grow. A diverse range of occupiers have secured new business space and St. Modwen has adapted to changing market conditions by providing flexible deals with an option to purchase in tenancy agreements. The ongoing appeal of the business park, coupled with this approach to accommodating the occupiers’ individual requirements, has resulted in Great Western Business Park establishing a reputation as an active and successful new business location for Worcester.”

Current occupiers at Great Western Business Park include Pickfords, Lightsource Europe, SPAL Automative UK Limited, Storage King, Materials Solutions and Bromsgrove Motor Factors.