News Archive

ST MODWEN DISPOSES OF OVER 14,000 SQ FT AT £20M GREAT WESTERN BUSINESS PARK, WORCESTER

Close Trading Companies IHT Fund has acquired two industrial properties, on a long leasehold, for circa £1.4 million from developer, St Modwen Properties PLC. The units form part of the first phase of the developer’s 23 acre Great Western Business Park – Worcester’s largest industrial scheme, formerly the site of the Tolladine Goods Yard.

The units will form a self storage facility to be managed by ‘Storage King’, an Australian-owned self-storage company and the first occupier on the development.

Julie Rossiter of St Modwen, the UK’s leading regeneration specialist says: “Great Western Business Park, Worcester’s largest industrial scheme for 20 years, is attracting considerable interest from a wide range of potential occupiers, including distribution, light engineering and transport-related firms. This recent deal with the Close Trading Companies and Storage King confirms that even in a challenging economic climate, there is still strong demand for good quality, well located industrial space.”

Richard Tomlinson of agents Humberts adds:

“In addition to Close Trading Companies’ acquisitions, we have another unit in solicitors’ hands.”

The two adjacent units form part of Phase One of development at the Business Park which comprises a total of six blocks of industrial units, providing approximately 110,000 sq ft of space. Building works for the first phase are anticipated to complete in the Autumn.

Notes to editors

Prior to the start of development, a redundant railway bridge on the site which had lain derelict for well over a decade was demolished and more than 850 tonnes of steel and concrete were recycled, some of it on the site.

The former goods yard housed a series of workshops which sustained many years of wagon repair. In later years the workshops became the only UK location for the manufacture of the canvas coverings for railway goods wagons.

For further information, please contact:

Paul Raymer

Howle Chapman Raymer

T: 0121 313 1000

Charlotte McCarthy

PR Manager

St Modwen Properties plc

T: 07970 949 914

E: cmccarthy@stmodwen.co.uk

Julie Rossiter

St Modwen Properties plc

T: 0121 222 9400