Multi-million pound West Midlands development complete
Commercial property developer Stoford and global asset manager BlackRock have completed the final phase of development at a multi-million pound business park, Spa Park, in Leamington Spa, Warwickshire.
The final phase has seen the development of five new units totalling around 320,000ft². This takes the total number of units at the scheme to nine, with 500,000ft² of space either available, under offer, or let at Spa Park.
Of the five new units, two are under offer and another has been let to General Motors. The fourth is a 166,859ft² purpose-built production plant which was pre-let to recycling company Berry Global.
With Bladon Micro Turbines, Liberty Commodities Limited, and Martin Sprocket & Gear each occupying one of the four original units at Spa Park, just one unit is available within Phase 1 (30,715ft²) and a second is available within Phase 2 (51,064ft²).
The new units have been awarded BREEAM ‘Excellent’ certification and an EPC ‘A’ rating, with rooftop solar panels and an EV charging facility on site. Phase 2 goes one step further than the initial four units when it comes to sustainability, with Phase 1 having been certified BREEAM ‘Very Good’. In addition to its sustainability features, Spa Park benefits from wellbeing elements including “outdoor bodyweight exercise equipment”.
Edward Peel, Director at Stoford, commented: “We are very proud to have completed the final phase of development at Spa Park. We have collaborated with BlackRock since 2017 to deliver nine new buildings, providing more than 500,000ft² of high-quality accommodation in a well-connected site near the M40.
“The scheme has consistently attracted high-calibre occupiers that have created many new skilled jobs in the region. We look forward to letting the remaining available units.”
Retained agents for Spa Park are CBRE, Bromwich Hardy, and M1 Agency.