AN EXAMPLE OF SUCCESSFUL INDUSTRIAL DEVELOPMENT

Tower Business Park is an 8 acre site, at Junction 4 of the M65 Motorway.

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The site was purchased in 2015, by Alden Green Ltd, who proceeded to apply for planning permission for  new warehouse / industrial units.  Various layouts were considered and the initial phase was then implemented.

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Phase 1 was a small unit scheme of 17,500 Sq. ft, which attracted tenants such as Wilkies Carpets; Style Quality Flooring; Euro Car Parts; Axchem and Halal Cosmetics Ltd.  The phase was let within a few weeks of completion.

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Due to the prime location, the larger enquiries were being received and transactions soon followed for Unit G, at 15,000 Sq. ft, let to Prevost –  a French compressor line manufacturer.  It is the U.K Headquarters.

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The next one was Unit D, which was 23,250 sq.ft, which was let to Perspex Distribution Ltd, which is a subsidiary of Lucite.  This is the North Western distribution and delivery depot and they relocated from nearby Walker Park.  Lucite are a subsidiary of a Swiss multi-national company.

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Unit A, at 16,710 Sq. ft, was then speculatively built and has been let to a locally based, but nationally operating stage and lights provider.

The final available unit now, is Unit C, which is under construction and amounts to 31,920 Sq. ft.

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So the points to note to achieve a successful scheme are as follows:

  • Buy land close to a motorway junction!
  • Carry out the early ground treatment, to make the site ready to develop, i.e. in this case, stripping top soil and lime stabilisation.
  • Build quality units, i.e. over and above the specification normally provided for speculative development.
  • Respond to occupiers demands and treat them like customers, i.e. treat them well.
  • Be prepared to put in extra offices, over and above a speculatively built unit, (as most occupiers tend to require extra offices in any case).
  • Do not compromise on quality.

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