A Test Valley Borough Council joint venture has taken a step closer to opening a major new 51,634sq ft distribution warehouse at Walworth Business Park.
‘Evolution 50’ is the first industrial speculative build of its size since the recession. The development is part of a wider joint venture between Test Valley Borough Council and Kier Property, formed to rejuvenate Walworth Business Park.
The brand new, purpose-built warehouse will sit within the wider 200 acre Walworth Business Park, next to the A303 on the eastern side of the town. It will feature four full-height loading doors, a large loading area, more than 100 car parking spaces and a fully fitted 3,500 sq ft office.
Kier Property has been working with the council since 2011 to promote Walworth as a business destination for the future by refurbishing existing space at the park and developing vacant plots.
Test Valley Borough Council’s Economic Portfolio Holder, Cllr Peter Giddings, said: “We are really pleased that work has started on this jointly funded, new speculative warehouse. The Council is committed to developing the local economy and this new unit will provide an excellent opportunity for another business to join the already thriving business park.”
Kier Property senior development manager, George Shepherd, commented: “Evolution 50 is an exciting development and will complement other schemes occupied by Twinings, Booker, Abel & Cole, Ocado and Le Creuset.”
Property consultancies JLL and Lambert Smith Hampton have been instructed to market the new building, which is being offered for sale or let to businesses that would benefit from the connections to London, Southampton, the Midlands and the North.
JLL Southampton director, David McGougan, said: “There has been an acute lack of speculative development across the Metropole region over the past six years. Supply of grade A stock is at an all-time low and more development is required to ease this chronic under supply of space so this development is expected to attract a lot of interest.
“The emergence of speculative development in Andover is excellent news for the town and wider region and is indicative of the increasing levels of investment, which will help strengthen the local economy and attract new businesses to the area.”
‘Evolution 50’ is expected to be available from August.
