St. Modwen, the UK’s leading regeneration specialist, has sold Brockton Business Park to TGPM Developments Ltd for £5.25 million.
The 200,000 sq ft business park, located south of Telford town centre, is fully occupied by CMLF & L (Telford) Limited, a major logistics provider which delivers products including chilled, frozen and ambient goods on behalf of discount supermarkets.
The £5.25 million price reflects not only the upturn in Telford’s commercial property market but also the expansion of the park’s sole occupier and the strength of discount retailers.
CMLF & L (Telford) Limited initially moved into part of Building 2 at Brockton Business Park in 2008. It went on to occupy the whole building before also taking part of Building 1. As the logistics business continued to grow, it took the whole of Building 1, meaning by 2011 it occupied the entire site, totalling 200,000 sq ft.
Jonathan Green, development surveyor at St. Modwen, said: “We always set out to understand the needs of our occupiers and we work hard to see that these are met. In the case of CMLF & L we have worked with them to ensure that the business grows in a sustainable way and that they meet all their business aims and aspirations.
“Prior to CMLF & L’s move to Brockton Business Park we had a number of tenants at the scheme, and we worked hard to keep it occupied throughout the recession. As the logistics company has grown, it’s employed more local people and contributed to Telford’s local economy.”
Tim Middleham, chief executive of CMLF & L (Telford) Limited, said: “We have a long relationship with St. Modwen having moved to Brockton Business Park from its scheme at Audley Avenue in Newport.
“St. Modwen has worked hard to aid our expansion by accommodating us within our existing location. We have also improved the site by installing dock levers, cold stores, chill and freezer facilities, creating a state-of-the-art storage and distribution hub.”
