Speculatively built office sold at Ivanhoe Business Park

Phil Randle, James Richards & Tim Gilbertson

In a market starved of good quality stock, CWC Group and their agents FHP and Salloway have confirmed the first success of their ambitious speculative office development programme at Ivanhoe Business Park, Ashby de la Zouch.

With a diverse range of occupiers on the Park, incorporating standard warehouse and industrial based companies plus trade counters, extensive office occupiers from smaller companies through to major headquarters plus a range of ancillary uses including Children’s Day Nursery and Veterinary Surgery, CWC Groups Development Director James Richards took the decision early in 2017 to speculatively build a range of new offices onsite to complete the development.

6 office buildings were commissioned, the first 3 of which were completed at the end of Summer 2017 and the sale of the first of those is now complete to expanding local company Blueprint Interiors.

Having purchased a fantastic Grade A office at just over 3,500ft² the move will enable Blueprint to continue their business development and success throughout the region.

Development Director at CWC Group James Richards commented:

“Ivanhoe has been a terrific success and Tim Gilbertson of FHP and Phil Randle of Salloway have brought us a range of occupiers across a diverse group of business sectors.  The 6 offices that we committed to build speculatively see the final land at Ivanhoe being developed and as we hoped would be the case we have experienced strong demand for all of these offices from the off.  I think the local market and indeed further afield have realised that this is the last chance to buy or rent office space at Ivanhoe and hopefully with this message getting through the confidence remaining in the office market has resulted in good levels of interest, such that we hope to announce as a result further deals completing very shortly.”

Phil Randle of Salloway and Tim Gilbertson of FHP added:

“It is great when developer clients take the decision to speculatively construct space.  As agents we know that there is a real demand in the market and this, coupled with the lack of supply, convinced us that our clients were making the right decision in speculatively developing.  As of then the pressure is on as agents to find buyers or tenants for office space but pleasing that so far we have received strong interest and as James Richards mentioned, hope to announce further deals shortly”.

The Blueprint Interiors deal is a great success story.  Their expansion and relocation to Ivanhoe Business Park will enable the Blueprint team to continue their development and build upon previous success as Managing Director, Rob Day commented:

“As experts in workplace design and fit-out we were delighted to work with CWC Group to jointly create a superb contemporary office building that completely meets our needs. Working from inception with their design and construction teams to handover a building ready for us to complete our own interior project provided an opportunity to create the most dramatic experience for our clients and staff alike.  Together we have built a striking and effective work space that enjoys state of the art energy-efficiency in a premium quality business park environment.”