Bromwich Hardy lets two units in Meon Vale business park

Coventry-based Bromwich Hardy has let two units at St Modwen’s Meon Vale Business Park in Stratford-upon-Avon in the West Midlands.

The company has likewise negotiated the re-letting of two additional bays; Bromwich Hardy will also act as joint agent for the site with Darby Keye.

One of its partners, David Penn, explained that the firm was also “close to finalising a letting deal for a further property at the 900,000ft² park close to junction 15 of the M40″.

Read more: Multi-million pound West Midlands development complete

He added that Keplin Group, a UK-based wholesale distributor, had taken 75,000ft² at Building 38 on the park.

The deal was followed by an agreement for the company to let Bay 3 at Building 23 and re-let Bays 1 and 2 in a deal that it has said covers more than 37,000ft² to Berkeley International Logistics.

On the letting of the West Midlands site, Penn commented: “Meon Vale is an excellent park boasting a fantastic location, and we are seeing strong interest from logistics and distribution firms in particular at the site.

“The industrial market across the region remains strong due to a combination of our historic strengths in manufacturing and engineering and also the fact that we sit at the heart of the UK’s communications network.

“Industrial rents have risen by more than seven per cent over the last 12 months with the logistics market and light industrial sector running considerably above that mark. That means that market rents in Coventry are the second highest in the West Midlands region, just behind Northampton.

“There is, of course, a huge need for more commercial land to be made available to help meet the demand that we continue to see.”

A further deal for the letting of a self-contained warehouse and yard at Building 711, covering nearly 5,000ft² is reportedly in the works for the firm and is near completion.

Source: logisticsmanager.com