Leading commercial property developer Stoford has secured funding for a state-of-the-art HQ, manufacturing, R&D and distribution centre in Wolverhampton for security hardware and electronics firm ERA, a division of Tyman plc.
Aberdeen Asset Management PLC, on behalf of institutional clients, has agreed to fund a new 135,625 sq ft unit at the i54 business park in Wolverhampton on land purchased from Staffordshire County Council.
Established in 1983, the international investment management group manages assets for both institutions and private investors from offices around the world.
The multi-million pound development will provide a high bay, single sided loaded manufacturing and distribution facility with 25,000 sq ft of office space. ERA, which currently has offices in Willenhall, Wolverhampton and Coventry, is a UK leader in the design, development, manufacture and distribution of innovative solutions for the home security market.
Commenting on the move, ERA CEO Darren Waters said: “i54 is an outstanding business location with excellent transport links. It’s a great fit with our long term strategy and will help to differentiate our brand, both as a supplier and leading employer.”
ERA will join occupiers such as Moog, Eurofins, ISP and Jaguar Land Rover which last year announced it would be doubling the size of its engine manufacturing centre at the business park.
Roger Annis, Fund Manager at Aberdeen Asset Management PLC, said: “The new motorway junction from the M54 directly on to the park has transformed this location into a key component and growth area of the Midlands industrial conurbation. We are delighted to be able to fund this high quality facility which will provide our investors with a long term, sustainable income stream and allow ERA, which has a long heritage in UK manufacturing dating back to 1838, to continue to thrive in a modern, purpose built and flexible facility.”
Dan Gallagher, joint managing director at Stoford, said: “We’re delighted that Aberdeen Asset Management has chosen to fund ERA’s new home in Wolverhampton.
“i54 has brought considerable investment to the area and has led to the creation of a great number of jobs. Located within an Enterprise Zone and with direct access to the M54, it is a key strategic site with a number of major occupiers manufacturing and transporting goods across the country. We’re positive ERA will feel right at home.”
Staffordshire County Council’s economy leader, Mark Winnington, said: “i54 South Staffordshire is now renowned for leading global business and innovation. ERA has a proud industrial heritage and is now a leading player in home security products. The move to its new HQ will allow the company to continue to expand and innovate in modern, purpose-built facilities. We now look forward to Stoford, which is delivering other job bosting schemes in Staffordshire, starting the development very soon. ERA’s addition to i54 South Staffordshire is another significant milestone in the site’s development, bringing more investment and jobs to our area.”
