The owners of an industrial estate in the Black Country are celebrating after signing up their final tenant to bring it to full occupation.
London & Cambridge Properties (LCP) handed over the keys to the last available unit on The Stourbridge Estate, Stourbridge, to former Great Britain cycling champion Gavin Pardoe. He is creating a £200,000 urban recreation centre with indoor BMX and skateboard park.
It is the company’s third industrial estate in a month to become fully occupied. The Grain Estate in Liverpool and The Dunstall Hill Estate in Wolverhampton are now also fully let after new tenants were attracted to the estates.
Andrew Preston, industrial property manager at LCP, said continual investment in its sites meant that it was ready to attract businesses as confidence begins to return to the market and the economy improves.
It has invested millions of pounds in recent years, maintaining and improving its units and estates to attract business.
“We are seeing much more buoyancy in the commercial property sector at the moment as businesses become more confident and seek to grow,” he said.
“We’ve always been of the opinion that we had to continue to invest across our portfolio so that we were ready for the upturn. The successes we have seen in the last month alone demonstrate that we were right to take the stance.”
LCP is one of the UK’s largest private owners of industrial, retail and office property to let, managing a portfolio in excess of 15 million square feet of commercial property across the UK.
International cycling champion Gavin Pardoe aims to open unit3sixty in time for the school summer holidays after signing a 10-year lease for the 22,029 sq ft Block F, Bays 5 and 6, a 22,029 sq ft space on Mill Race Lane.
As well as the world championship standard indoor skate park with ramps, rails and jumps, the centre will also house an intermediate level skate park; a mini balance bike course for two to five-year-olds; graffiti art studio, DJ academy, urban dance area, café and shop.
It is hoped that Unit3sixty, which has secured funding from Dudley Council Community Enterprise Fund, Sport England, Charity Bank and The Margaret Westwood Charity, will create up to 12 jobs.
Paula James, sales negotiator at LCP, said: “We’ve been working very closely with Gavin and Dudley Council to ensure that this deal could go ahead. The local community has been very supportive of the venture and we are pleased that residents of Stourbridge and Dudley Borough will have such a high quality facility on their doorstep.”
