Strong demand for commercial space accelerates speculative building in Gloucestershire

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St. Modwen, land owner and lead developer of four key developments in Gloucestershire, is accelerating its programme of speculative building in response to continued strong demand for more commercial space across the area.

The regeneration specialist has recently submitted a planning application, in partnership with Stroud District Council, to deliver nine more speculative commercial units, for sale or rent, at its £150m mixed use scheme, Littlecombe, in Dursley.  Subject to planning consent, this flexible accommodation will offer occupiers 18,350 sq ft of new business space, in unit sizes ranging from 1,300 sq ft to 8,600 sq ft.  Littlecombe Business Park is already home to 11 business occupiers.  This next phase of speculative commercial building will further strengthen the Business Park’s appeal for small businesses and provide the potential to attract up to 70 more jobs for the local area.  The nine new units will be completed for sale or rent, in autumn 2017.

Additional commercial space is also underway at St. Modwen’s Gateway 12 development, off junction 12 of the M5.  Scheduled to complete in October 2017, occupiers will have a choice of two detached speculative units, 39,000 and 41,000 sq ft in size, each capable of flexible subdivision of the internal space to accommodate the needs of any warehousing or industrial operator.  This £4.4m construction contract is being delivered for St. Modwen by local firm, Barnwood Construction.  It follows on from the completion and sale of the first two 40,000 sq ft speculative units last year to kitchen firm, ProCook and home furnishing supplier, Warwick Fabrics.

Pete Davies, Senior Development Manager for St. Modwen in the South West, says:

“Demand for good quality commercial space in Gloucestershire, as with much of the South West, remains buoyant and we are accelerating our speculative building across the region this year to satisfy market demand and attract more inward investment and jobs to the area.”

The £150m mixed-use development at Littlecombe, and the £22m Gateway 12 development at Waterwells Business Park, are two of four key sites being developed by St. Modwen in Gloucestershire, alongside Quedgeley West and neighbouring Quedgeley East Business Parks at junction 12 of the M5. Other St. Modwen developments with design and build opportunities in the South West include Skypark at junction 29 of the M5 near Exeter; Firepool in Taunton; Locking Parklands in Weston Supermare off junction 21 of the M5; Clevedon Business Park off junction 20 of the M5, and Access 18 Avonmouth off junction 18 of the M5.