Commercial property deals bring inward investment
A property, risk and facilities management company has witnessed a substantial uptake in commercial stock with occupancy levels rising to 96 per cent.
The Wigley Group, which owns and manages several business and industrial parks across the Midlands, has let around 200,000 sq ft of space across 10 different lettings through Coventry-based commercial property agent Bromwich Hardy.
The deals signal the returning strength of the local commercial property market, bringing fresh inward investment to the area.
The largest transaction for The Wigley Group included the letting of 88,000 sq ft premises, located off John Wigley Way in Foleshill, Coventry, to London-based recycling and haulage firm Dancebuy.
Other deals include the letting of 4,537 sq ft of space to Italian manufacturing firm Atlantic Fluid Tech and 4,320 sq ft premises to Interserve Fire Services at Henley Park Industrial Estate, in Hall Green.
James Davies, director at The Wigley Group which is based at The Cobalt Centre in Siskin Parkway East, said: “We are very pleased to have witnessed a hive of activity over the last 12 months with substantial demand for high-quality office and warehouse premises.
“Henley Park Industrial Estate has become a hub for large international companies looking to open in the UK."
Bromwich Hardy is at the forefront of activity, having won the 2014 Estates Gazette Award for Warwickshire and finished top of Commercial Property analyst’s listing for Coventry and Warwickshire with 112 leases, sales and purchases over the past 12 months, almost double its nearest competitor.
James Brookes, of Bromwich Hardy, added: “We have been successful in attracting a variety of businesses to several estates across Coventry with the premises on site suitable for industrial and warehouse use."
Meanwhile a new business and trade park developed in Coventry - Vantage Park, just off the A444 near the existing Gallagher Retail Park - has attracted two major retailers, creating 40 jobs.
F1 Autocentres has announced it will occupy new 5,000sqft premises at the site creating 20 jobs and Magnet, the UK’s biggest kitchen retailer, will open its new flagship store incorporating a kitchen showroom, trade counter, warehouse and offices.