Three units have been let prior to completion at Network Space’s Tunstall Arrow, an £11m speculative industrial development in Stoke-on-Trent.
Located in Tunstall, the 130,000 sq ft scheme comprises five detached industrial units, ranging from 10,208 sq ft to 43,500 sq ft in size and officially launched earlier this week.
All units at Tunstall Arrow are being built by Caddick Construction to high specification and come with self-contained yards as well as office space.
Premium international balustrade manufacturer, Q-Railing has taken unit one, a 43,500 sq ft space, with early access provided for fit-out works.
Unit three, which is 10,208 sq ft, has been pre-let to the Netherlands based Boels Rental, the largest provider of hire equipment and tools in Europe.
Pramac-Generac UK, which manages and distributes its world leading brands, Pramac Power Generation and Generac Mobile Products to the hire, rail, construction and infrastructure sectors, amongst others throughout the UK, has completed an agreement for lease for unit four comprising 20,465 sq ft and will be relocating from its present location in Crewe.
Each of the new occupiers have agreed 15-year lease terms and negotiations are at an advanced stage with occupiers for the two remaining units.
Tunstall Arrow is being delivered in partnership with Stoke-on-Trent City Council, with grant funding coming from the Ceramic Valley Enterprise Zone Development Fund. The Ceramic Valley is one of 48 enterprise zones across the UK and has the potential to create up to 6,700 jobs. The zone covers 3.3 million sq ft of commercial space across six key sites along the A500 corridor.
Simon Peters, development director at Network Space, said: “The letting of three out of the five units prior to completion, especially to international businesses, shows not only the strength of the region’s industrial market but also the appetite for investment into the UK from abroad. This is a resounding endorsement for our decision to proceed with this speculative development and the support provided by Stoke City Council.
“The site’s accessibility from the A500 and M6, as well as the high specification has proven popular with a wide range of end users and we’re confident in the level of interest for the remaining units as we look ahead to phase two which is set to deliver a further 100,000 sq ft of commercial space.”
Bruce Bradshaw, general manager at Q-railing, said: “Having outgrown our existing premises in Wolstanton, we are delighted to be moving into high quality accommodation, while remaining in the Stoke area. The support from Stoke-on-Trent City Council has ensured that the entire development will be complete in the near future, creating an excellent work environment for our people as well as creating benefits for our customers too.”
David Oates, managing director at Pramac-Generac UK said: “We are delighted to be working with Network Space as the site at Tunstall provides us with a prime warehouse and distribution space which will enable us to scale-up our business over the next few years. It is conveniently and centrally located for all our customers and will further strengthen our ambitions to create a national hub and service centre for our two leading brands.”
Councillor Abi Brown, deputy leader of the city council and chair of the Ceramic Valley Enterprise Zone Board, said: “The potential of the Enterprise Zone has always been huge and the success to date shows just how attractive it is. The interest we have received from national and international businesses is fantastic for this city.
“We have worked with developers such as Network Space from a very early stage to understand their needs. There has also been a significant push to promote the benefits of the Enterprise Zone, including work at international trade shows and on innovative marketing projects.
“The fantastic news on jobs which are secured and in the pipeline is a direct result of the hard work by everyone across the Enterprise Zone project and we are extremely excited about the further benefits this project will bring for Stoke-on-Trent.”
Councillor Janine Bridges, city council cabinet member for education and economy, said: “The success of the Enterprise Zone clearly demonstrates the confidence and ambition that is growing in the local economy. It’s great news for the local workforce and shows that businesses are recognising the benefits of investing in this area.
“The future for the Enterprise Zone is very positive and we’re looking forward to many more success stories, with the potential for 6,700 jobs across the six locations.”