St. MODWEN LAUNCHES QUEENSWAY BUSINESS PARK, TELFORD

Redman Heenan Properties Ltd, the investment subsidiary of St. Modwen Properties PLC, has launched its Queensway Business Park, Telford, with the sale of the office element of the former Mitutoya building.

The offices which comprise  1,001 sq m (10,780 sq ft)  have been sold for occupation by Geko Direct Ltd for £575,000. The remainder of the building is being sub-divided into four units of around 1,022 sq m (11,000 sq ft)  each for sale or to let.  Planning consent has been obtained for the sub-division and the unit should be available in early autumn.

Alan Williams of St. Modwen said “We are pleased to have made our first disposal on Queensway Business Park and will be carrying out the next stage of sub-divsions over the next three months. We are also in for planning for some 8,361 sq m (90,000 sq ft) of new high specification units suitable for trade counters, showrooms, industrial distribution and office uses from 232 sq m (2,500 sq ft ) to 1,393 sq m (15,000 sq ft).  These will be available for sale or to let from late spring 2007.

“In addition we have a further seven  acres for future new build opportunities.  We have already instructed solicitors in respect of several units and are in negotiation on others so demand is strong.”

Andrew Dixon & Co. acted for St. Modwen and is the letting agent for the new development.

For further information contact Alan Williams of St. Modwen on 0121 222 9400.  Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).