Glenmore Commercial Estates has started work on two speculative industrial developments at Waterwells Business Park in Gloucester, giving further credibility to the signs of economic recovery in the region, say property consultants Alder King who are agents on both schemes.
Phoenix House will be built at the western end of Waterwells Business Park. This high quality self-contained industrial/warehouse unit will offer 21,900 sq ft of space with fully fitted offices and ancillary accommodation at first floor level and a substantial yard area with generous parking. The property, due for completion at the beginning of next year is available for sale or to let through Alder King and its joint agents Knight Frank.
Elsewhere on Waterwells, Glenmore is pressing ahead with the development of the second phase of Stanley Court. Due for completion in January 2014 this will provide three buildings offering industrial/warehouse and business units ranging from 1,080 to 4,487 sq ft. Each unit will feature a first floor storage area, suitable for upgrading to office space subject to planning. One of these units has already gone under offer and is in solicitors’ hands. The remaining units are available to let or for sale through Alder King and Ash & Co.
Adrian Rowley, partner at Alder King in Gloucester, says: “Phoenix House and Stanley Court have been given the green light by Glenmore, a well-respected and highly successful investment and development company, who clearly believe the time is right to press ahead with speculative development and capitalise on the shortage of quality business space in the region.
“This, together with other speculative developments now underway in the South West, is another reassuring sign of growing developer confidence and economic recovery.”
Waterwells Business Park is a successful and popular business park situated directly off the A38 and just one mile north of Junction 12 of the M5.