Taunton-based commercial property specialist, Summerfield, has completed the latest phase of its business park, Westpark 26 in Wellington, Somerset, as demand for space at the development continues to accelerate.
Seven of the 14 commercial units available at the newly constructed Block 1 have already been sold, with a further five units under offer. The new block is the latest addition to the three-block complex of Westpark 26’s Enterprise Unit, which is aimed at accommodating small and medium enterprises (SMEs) and saw its first two blocks, which together offer 26 units, sell out quickly.
The Enterprise Unit, which comprises a total of 40 units across the three blocks or terraces, represents the first phase of Summerfield’s plan to create a wider mixed-use development on the site, which covers over 40 acres, and, subject to planning, will include distribution, manufacturing, trade, office and road-side uses.
Commenting on the new development, Ben Trickey, Senior Development Surveyor at Summerfield, said: “Block 1, the latest addition to our Enterprise Unit at Westpark, has attracted even more interest than the two blocks that were completed in 2011. This interest demonstrates businesses’ increasing confidence in the region’s economic performance, as well as reflecting the popularity of the facilities on site.”
He continued: “We are seeing a growing range of business types explore the accommodation available at the Enterprise Unit. This is partly a result of the variety of space options offered, which allow smaller companies to plan for, and accommodate, growth at the site.”
Taunton Deane Borough Council helped facilitate the rapid growth of the Enterprise Unit, with planning granted for Block 1 within just six weeks from the date of Summerfield’s application. Councillor John Williams, leader of Taunton Deane Borough Council, said: “The ongoing success and popularity of Westpark 26 is great news for Taunton Deane in terms of both the employment opportunities it creates, and the encouragement it gives for businesses to invest in the area. We are delighted to see demand for this excellent facility grow apace, and pleased to support its ongoing growth.”
Units in Block 1 range in price from £75,000 to £168,000 (plus VAT and Stamp Duty) and £5,000 to £10,700 per annum rent (plus VAT and Stamp Duty). Summerfield’s Ben Trickey added: “Interest is split between those looking to buy and those looking to rent, with the majority purchasing units. Many purchasers are installing mezzanine floors to enhance the capital values and increase the potential total rent in the most cost effective way.”
Stephen Jones, Managing Director of Somerdale International Limited, occupier at the Enterprise Unit for three years, commented: “Westpark offers the great combination of a pleasant location that is also strategically placed – it’s just half a mile from Junction 26 of the M5. The facilities are modern and bright and it’s great to be a part of the fast growing business community here.”
In response to demand for space in Block 1, Summerfield is now planning another new block for the Enterprise Unit at Westpark. The company has also had planning applications approved by Taunton Deane Borough Council for further developments at Westpark, including a petrol filling station with a food and drink offering, and a 100,000 sq. ft. building aimed at a single occupier.
Summerfield’s Ben Trickey concluded: “These enterprises could bring further employment and activity to the site, with job opportunities created during the construction phase and in the new facilities created. These are truly exciting times for Westpark 26.”
Duncan Brown and Tony McDonnell of Greenslade Taylor Hunt (GTH) are Summerfield’s agents on Westpark’s Enterprise Zone and have been instrumental in many of the sales and lettings. JLL and Alder King are agents on the wider business park, dealing with larger, standalone warehouses, trade counters, design and build properties, and frontage site enquires.