The first new commercial property estate in Witney for several years has proved to be a major success.
Stanley Court in Richard Jones Road, Witney is now full with 35 industrial/warehouse units either under offer, let or sold by joint agents VSL and Carter Jonas acting for developer Glenmore.
Despite the impact of Covid-19 and lockdown, demand and take-up have been strong with the site full within 18 months of building work being completed. Significantly, half of the units were let or sold since the start of this year, all of them at market rates.
Will Davis of VSL said: “Stanley Court has been a highly successful development. A key factor in the success of the development has been the lack of alternative stock in the market. This was the only freehold opportunity available in Witney and Glenmore have delivered the right product in the right location.”
Stanley Court was offered on a freehold or leasehold basis and take-up was a 50/50 split between freehold purchases and leasehold agreements.
Recent transactions include:
- 6 Stanley Court to Blenheim Flooring which took a 1,353 sq ft industrial unit on a 5-year lease
- 27 Stanley Court to Dovecote Windows which took a 1,026 sq ft unit on a 5-year lease
- 18 Stanley Court to Oxyplumb which took 1,371 sq ft unit on 5-year lease
Other firms at Stanley Court include pharmaceutical business Lincoln Medical, property management specialist Remus, Bioproject UK, Refurb Property Renovations and KPM Carpets and flooring.
Stanley Court follows the success of the Glenmore Business Park in Langford Locks, Kidlington.
Jon Silversides, Partner, Commercial, Carter Jonas Oxford said: “Carter Jonas has been involved with Stanley Court since its inception. Having sold the site to Glenmore originally and now as a retained joint-agent, we are extremely proud to have played a key role in completing the circle, announcing that it is now fully occupied. The rate at which units at Stanley Court have been taken up reflects the quality of the space available and the sites established commercial location in an area that has recently benefitted from wider infrastructure improvements.”