ROK Developments has paid Arlington Securities more than £700,000 per ha (£283,000 an acre) for a 1.74ha (4.3acre) site at Gloucester Business Park. It paid £1.18m for the site where it is planning to develop a 6,874.6 sq m (74,000 sq ft) industrial scheme. The site was sold with outline planning consent.
ROK’s decision follows its successful development of the adjacent Nexus site where it developed 4,180.5 sq m (45,000 sq ft) of industrial space in nine units from 220.17 sq m (2,370 sq ft) to 920 sq m (10,000 sq ft) which completed in June 2005. Six of the units have been sold with another currently under offer.