St Modwen Properties PLC has secured planning consent to develop a £10 million-plus speculative warehousing development at Quedgeley West Business Park, Gloucester.
This follows the success of the first phase of the park where Prestoplan, a subsidiary of Taylor Woodrow, will take occupation of a 94,000 sq ft building later this month (October).
Construction of the 120,000 sq ft development, one of Gloucester’s largest ever speculative warehousing schemes, will begin in January and will be completed in September. The development comprises six high quality units, ranging from 11,500 sq ft to 32,000 sq ft .
Rob Skelston, senior development manager, of St Modwen, said: “We have decided to construct the multi-unit second phase on a speculative basis because of the limited availability of good quality similar sized accommodation in the Gloucester and Stroud areas, and the apparent level of unsatisfied occupier demand.
“Prestoplan has proved the attractiveness of the location and the time is right to provide a range of units for medium-sized operations. It is one of the most prominent business parks along the Gloucester stretch of the M5 and will attract interest from local occupiers as well as national organisations seeking a regional presence.
“After this phase we will still have the ability to provide 300,000 sq ft of additional space on either a bespoke basis or through a further speculative phase.”
Quedgeley West Business Park is a quarter of a mile from Junction 12, M5 at the southern edge of Gloucester. It is highly accessible for the local workforce and for access to the motorway and A38.
Ash & Co and DTZ are joint letting agents for St Modwen.
For further information contact Rob Skelston (0117 3167780). Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).