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ST. MODWEN SUCCESS IN STOKE-ON-TRENT BUSINESS AND OFFICE VILLAGES

Demand remains strong for business village and office locations in Stoke-on-Trent, reports regeneration specialist St. Modwen.

The company saw continued demand for space within office villages through 2010, resulting in 100 per cent occupation at its Trentham Business Quarter and Trentham Office Village schemes, totalling some 56,000 sq ft of office and studio space. The two adjacent schemes were part of a larger speculative development programme by St. Modwen, including the 46,000 sq ft Trentham Trade Park and Trentham District Shopping Centre, which comprises four shops and an Aldi supermarket.

Situated within St. Modwen’s Trentham Lakes development, a 400 acre mixed use business, industrial and warehouse scheme, both the Business Quarter and Office Village benefit from a prime location amid a thriving business community. Companies currently based at the office village schemes range from Austrian business Reidel Crystal to local company Redstone Managed Communications, demonstrating Trentham’s growing reputation both regionally and overseas.

Commenting on the success of Trentham Business Quarter and Office Village, Andrew Cox, development surveyor for St. Modwen said:

“Trentham Business Quarter and Office Village generated demand from the outset and we have now let or sold all 30 units, despite the poor economy, over the last two years. This is testament to the quality of the buildings and their first class location. Businesses on the schemes include start-ups, small businesses, regional, national and international companies, who have all recognised the combined benefits of being located within contemporary, cost effective premises and a thriving business community at Trentham Lakes. The variety of properties available on our schemes has also contributed to their popularity, making them accessible to businesses of all sizes and enabling some companies the option to occupy additional space in line with their growth.”

St. Modwen continues to see demand for new small office developments and in anticipation of improving market conditions, has also achieved detailed planning consent for 45,000 sq ft of office accommodation on its Etruria Valley Business Park scheme.

Andrew Cox continued;

“The combination of market uncertainty, empty building rates charges and the difficulty for small businesses obtaining funding, makes speculative development risky in the current market. It will not be until we have confidence that we are building units which will generate immediate occupation that we will begin construction on this new business village. None the less, bringing forward new commercial developments such as this would make a positive contribution to economic recovery on both a local and national scale and we trust that the public sector will assist businesses in securing funding for expansion, either through encouraging support from the banking sector, or direct public assistance.”

The Etruria Valley Business Park already has 460,000 sq ft of completed development including construction over the last two years of an 80,885 sq ft Vodafone UK call centre, a 7,850 sq ft Hanley Economic Building Society office and a 35,900 Wade Ceramics Limited factory. All of the properties were purpose built for their occupiers with the Vodafone UK call centre highly commended at the Chartered Institute of Architectural Technologists’ (CIAT) national awards. St. Modwen is actively seeking further bespoke design and build opportunities for the Business Park, enabling companies of a substantial size to create purpose built and technically innovative new premises on the development.