News Archive

St Modwen¹s phase 2 success at Quedgeley West, Gloucester

St Modwen has pre-let 30,445 sq ft in the second phase of distribution / industrial units now under construction on Quedgeley West Business Park, Gloucester. A currently undisclosed national company will later this year occupy on a 15 year lease at an initial rent reflecting £6 per sq ft .

Two further units comprising a total of 29,000 sq ft will be completed in November and December .

The letting and strong interest levels underpin the confidence to progress a further 62,000 sq ft in two further buildings due to complete in April 2008.

This means a total of 120,000 sq ft is currently under construction in one of the largest speculative distribution / industrial schemes in Gloucester in recent years, which follows the first phase pre-let of 94,000 sq ft to Prestoplan in 2006.

Rob Skelston, senior development manager for St Modwen, commented: “We are pleased with Phase 2 occupier interest to-date and are progressing discussions with interested parties for the remaining 90,000 sq ft under construction. A third phase of development will follow on the remaining 15 acres where bespoke buildings can be built to meet specific occupier requirements and where the prominent location on the A38 within 0.25 miles of Junction 12 of the M5 offers obvious advantages to companies requiring quality distribution / warehouse accommodation “.

DTZ and Ash & Co acted for St Modwen.

For further information contact Rob Skelston or Pete Davies (0117 3167780).

Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).