Properties on Warwick’s newest business park have all but gone as eager buyers and investors snap them up.
The £3 million St George’s Business Park in Lower Cape, Warwick, has proved extremely attractive to both owner occupiers and investors alike, said Simon Hain, a director of Leamington-based property consultants ehB Commercial.
“The success of the business park shows that the local economy is very much back on track. There 11 units on the 4.4 acre site – ranging in size from 1,750 sq. ft. to 7,500 sq. ft. – and all but one of them have gone and, with the amount of interest being shown, we fully expect that to be sold very soon,”
The properties on the new enterprise zone for small to medium sized companies are considered ideal for companies involved in design, manufacturing, engineering or warehousing. “Most of them were bought off plan and there has been serious interest ever since construction work began in July last year.
“This is good news for the area, not only for new jobs but a sure sign that the local economy has recovered,” said Mr Hain.
Companies that have moved in include Newbury Commercial Glazing, Walter Ewag, Pearl Motor Yachts and TDR Racing (Subaru specialists).
The business park lies on the site of the former Benford dumper truck factory and has been owned by the property development division of family-owned Kigass since the former Benford/Terex plant was relocated to Coventry over ten years ago. The site had been redundant and vacant ever since.
Managing director Joanne Smith, who is the great grand-daughter of the firm’s founder Charlie Wardman, said: “Benfords was a traditional engineering company that employed a lot of people. The plan has always been to regenerate the site and create new business and job creation opportunities. I am delighted to see how well the scheme has been received and how much better the area looks. I am excited to now be completing the nine house residential development, High Bank, next door. These houses will soon be released for sale and will offer affordable houses in this rejuvenated area.”