Developers of a new £3.6m business park on the outskirts of Newquay in Cornwall are celebrating after all six units were snapped up prior to the business park’s completion. The scheme, which was part-funded by the ERDF Convergence Programme, is an excellent example of a private and public partnership to develop quality business workspace.
Since commencing work in late 2013, Quintrell Downs Business Park attracted strong interest due to the lack of available high quality workspace in the Newquay area. This first phase of development created a new, fully serviced and accessed business park featuring six high quality employment units and a further three acres of development land.
Property consultants Alder King and Stratton Creber Commercial have now sold or let all six units to a range of successful indigenous and national occupiers, creating new employment and making a second phase of speculative development increasingly likely, subject to the availability of grant funding.
New occupiers in the four unit terrace include Cyberstein Robots Ltd which has purchased a long leasehold interest in Unit 2a. The company behind the cult character Titan the Robot has relocated from its previous base at Treloggan Industrial Estate in Newquay to secure larger and more energy-efficient premises.
Residential developer Legacy Properties has purchased the long leasehold interest of Unit 2b for its Cornish headquarters and to provide some storage capacity.
Roche-based Celtic Tuning, which specialises in vehicle management software and operates nationwide, has acquired the long leasehold interest in Unit 3a, with the option to purchase the 4,508 sq ft semi-detached unit at a later date. The new unit will become the company’s new headquarters.
Another business has purchased a 4,500 sq ft facility and has already started significant fit out works to transform the space into an IT centre, creating a significant number of new jobs.
Tom Duncan, head of agency at Alder King’s Truro office, said: “Fortdown’s development was one of the first speculative schemes in Cornwall for several years and the successful disposal of all six units demonstrates that Cornwall businesses will move quickly to secure quality new space when it is immediately available and ready to move into.
“We anticipate that when the next stream of ERDF grant funding becomes available in the summer of 2015, we’ll see further speculative development get underway to give expansion opportunities to more of Cornwall’s most flourishing businesses.”
It is hoped that over the next few years and with further phases of commercial development likely (subject to grant funding) that a large number of 100 jobs could be created and supported as a result of this development.
The units, which range in size from 1,830 to 4,500 sq ft, are all highly sustainable and been built to BREEAM Excellent standards. The developers Fortdown Developments Ltd have future-proofed the units by installing roof mounted Solar PV, highly efficient heating systems, high levels of insulation and other environmentally friendly technologies which together will result in lower energy costs for occupiers.
John Richards from Fortdown Developments said: “Everyone at Fortdown Developments is delighted that the workspace has been so popular and that they will be occupied by a varied set of local and national businesses – all of whom are growing businesses who plan to create new, well paid jobs over the coming months and years. The location, quality and specification of these premises demonstrate the need for quality workspace in the Newquay area.”
Fortdown Developments Ltd plans to develop the remaining three acres of land on the business park for further commercial development. However, it will also consider disposing of individual development plots or larger parcels of land should that be of interest. Richards continued: “Thanks to the amazing response to the first phase of this development we encourage anyone looking to expand to consider Quintrell Downs Business Park as their first choice for relocation or expansion.”
Chris Pomfret, Chair of the LEP and Deputy Chair of the Convergence Local Management Committee, which steers the Convergence Programme said: “As we move towards the next European Programme, it is important to remember that Convergence investments are still delivering great results across the region. Quintrell Downs Business Park is an excellent example of a private and public partnership to develop workspace to fulfill business needs in the area.”
The units use a range of high performance materials, including timber cladding (from a sustainable source) and incorporate flexible office space that can be extended horizontally and vertically to suit the end users’ specific requirements. Externally, the units include car parking spaces which are complemented by cycle storage and recycling facilities for the future occupiers’ use.
Robert McGuffie of RJM Property & Development Consultants Ltd has been working with Fortdown throughout the project and said: “We have been delighted with the response received to this speculative project and it can be used as a great example of providing the right flexible space for businesses looking to expand and locate in the area. Whilst these units are now occupied, further opportunities will be available on the remaining development land and interested parties should contact myself, Fortdown Developments Ltd or their agents Alder King and Stratton Creber.”