NEW YEAR SALES SUCCESS AT ST. MODWEN’S QUEDGELEY BUSINESS PARK

St.Modwen, the UK’s leading regeneration specialist, has started the New Year positively at its 32 acre Business Park scheme in Quedgeley, Gloucestershire with the sale of the Park’s most prominent unit.

The sale of the 12,986 sq ft speculative Unit B has completed with Gloucester-based bodyshop repairs business, Shires Accident Repair Centre. The unit, which is situated at the front of Phase 2 with direct frontage to the A38, will create 25 jobs, contributing to the 500 jobs which are expected to be generated across the total scheme once complete.

The family-run business which has operated in Gloucester since 1997 will be moving to the new premises in early 2010 and will look forward to working from the larger premises. Shires is an approved repairer for The RBS Group which includes Direct Line, Nat West, Churchill, and Tesco Insurance, plus Gloucestershire Police, Gloucestershire Fire Service and Warwickshire and Gloucestershire NHS trusts.

With the completion of Phases 1, 2 and 3 three quarters of the Business Park’s transformation has been completed. Just one unit of 31,865 sq ft remains in Phase 2, which is now under offer to a local business. This paves the way for commencement of the final Phase 4, where St. Modwen is able to construct units from 10,000 to 70,000 sq ft for sale or to rent, built to occupiers’ specific requirements.

Quedgeley West Business Park is one of four sites owned by St. Modwen in Gloucestershire, who is also developing Littlecombe Business Park, Gateway 12 at Waterwells Business Park and Quedgeley East Business Park adjacent to Junction 12.. To date, over 320,000 sq ft of space has been developed and leased or sold at the Business Park to a range of local and national businesses including international express delivery firm City Link, Prestoplan, Gardiner Brothers and CM Downton Ltd. Downton was the last unit to be developed which provided over 100,000 sq ft of high bay warehousing within Phase 3.

Rob Skelston, Development Director, St.Modwen, said:

“We are delighted to have sold Unit B to Shires who are a well respected and established Gloucestershire firm. With the sale of the penultimate unit in Phase 2 and the final unit under offer, we are fast approaching the final Phase 4 of the Business Park which we aim to commence during the course of 2010.. Despite a challenging economic climate, the site’s unique location next to the M5, high quality bespoke business units and well managed environment continue to attract businesses to this successful Business Park.”

Ash & Co and DTZ represented St. Modwen on the sale.