Work is underway on the first phase of Stepnell Park, an £8 million development set to bring much-needed new commercial and industrial units and up to 100 jobs to Rugby.
The business park is being developed and built by leading regional construction contractor Stepnell on ten acres of land owned by the company on Lawford Road, a mile to the west of the town centre.
The redevelopment will also enable the 151-year-old family-owned firm, which has been headquartered at the Lawford Road location since 1965, to create brand-new head office premises. Stepnell currently has over 100 people operating out of Rugby.
Ten new industrial, warehouse or trade counter buildings, ranging in size from around 5,000 to 26,500 sq ft are taking shape in the first phase of work which will deliver around 85,000 sq ft of space in total. The development will benefit from roof mounted photo-voltaic panels which will generate nearly half the energy requirements on site through the use of an innovative smart electricity grid to maximise this benefit to the Park’s occupiers.
“Our team is making excellent progress on site at Stepnell Park with the steel frame for two of the buildings now in place and construction in progress on the remaining buildings,” says Stepnell property director Edward Wakeford.
“With commercial and industrial space suitable for small- to medium-sized enterprises in short supply locally, we’re receiving significant interest in these modern, high-specification units at this prominent location. Our construction programme is on track for the first units to be completed ready for occupation from early autumn 2019.
“This development showcases Stepnell’s ability to offer a complete development service through our construction team working alongside our in-house property and development team. We are able to deliver schemes from the planning stages through to practical completion on site, and subsequently manage the development and its tenants.
“Stepnell Park marks a key investment in our future, allowing us to create a modern headquarters building providing our team with a high-quality, enhanced working environment and enabling us to continue to pursue our strategy of organic, planned growth. It also emphasises our ongoing commitment to the Rugby area where so many of our staff live and which has given us such an effective base from which to build the business to its current position of strength and financial stability.”
In 2018, Stepnell, which operates across central and southern England, reported turnover up 15 per cent and a significantly improved profit before tax of just over £2.07 million. The company works across the health and care, civil engineering, commercial and industrial, education, leisure, residential, property and developments sectors.
Stepnell is set to submit a reserved matters planning application for phases 2 and 3 of the Stepnell Park development programme later this year. This will include further industrial and commercial space as well as a modern office, plant and joinery facilities for Stepnell’s own occupation.
The new infrastructure for the redevelopment, including a new access from Lawford Road and a new road running through the business park and connecting to Paynes Lane, is already in place.