The first unit on a new Coventry industrial park has been reserved months before the development’s completion, thanks to successful marketing by leading Midlands commercial property agency Bromwich Hardy.
Albion Enterprise Park will provide 20 units for sale, ranging in size from 1,000 to 3,000 sq ft, to help meet growing demand from small and medium-sized businesses for space in the region.
Inspire Technology Ltd, which provides quality refurbished used smartphones, has instructed Bromwich Hardy to reserve the first unit on the 1.88-acre brownfield site in Endemere Road, even though construction only began in May.
The industrial park is being constructed by Tyto Contracting Limited and project managed by Tetra Real Estate, both part of the Wigley Investment Holdings portfolio of companies.
Mark Booth, a surveyor at Bromwich Hardy, said: “The region has been calling out for more high quality industrial developments like this for years, so it is a pleasure to marketing these units to occupiers and investors.
“With a developer like Tetra Real Estate, their reputation precedes them, which is why our first buyer had the confidence to purchase a unit before steels were even up.”
Albion Enterprise Park is expected to take around 12 months to complete, with the first units available for occupation by the summer of 2025.
Chris Parsons, managing director of Tetra Real Estate, has been involved with the site all the way from the first designs, costing and planning through to the construction phase.
He said: “We’re thrilled Albion Enterprise Park has attracted a prospective tenant so early in its construction.
“This sale represents a significant milestone in the project and demonstrates just how great the need is for commercial space in and around the city.
“We fully expect to have a healthy number of businesses waiting to move in when building work finishes next summer.”
The development is one of two new industrial parks in the region Tetra Real Estate is overseeing thanks to a loan from Warwickshire County Council’s Property Infrastructure Fund (PIF), managed by global real estate advisor, CBRE.
The PIF is the property strand of the Warwickshire Investment Fund (WIF), which supports the provision of sites and premises to help grow the local economy.
Councillor Martin Watson, portfolio holder for economy at Warwickshire County Council, said: “The availability of smaller light industrial units is constrained locally, which is why the Albion Enterprise Park development is a great opportunity for the PIF to support the provision of this kind of space.
“While Warwickshire and the city of Coventry are home to many large global businesses, we know that small and medium sized businesses are major employers locally and nationally, and essential to local supply chains.
“It’s great to see the PIF supporting this development and the businesses that will benefit from the new space.”
Albion Enterprise Park will provide modern and sustainable industrial units with office and storage space, plus 72 car parking spaces. The site is close to the A444 with easy access to the M6 and M69.
Tetra Real Estate has partnered with Warwickshire County Council and global property advisors CBRE in funding the project.
For more information on units at Albion Enterprise Park, visit the Bromwich Hardy website at https://www.bromwichhardy.com/ , or email Mark Booth at mark.booth@bromwichhardy.com.