Speculative Midbox warehouse scheme 100% let prior to PC

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All three units at developer Redsun’s 80,000ft2 industrial scheme Pioneer Park in Telford have been let prior to practical completion.

Smartwater Group, advised by MK2 Real Estate, has taken unit 1 (23,000ft2) on a 15-year lease, unit 2 (14,000ft2) has been sold to Load Lock and the final 40,000ft2 industrial building has been let to Sirane Ltd on a 10-year lease.

Nick Wightman, director at Redsun Projects, said: “Securing occupiers for all three speculatively built units before completion demonstrates the strong uptake for high quality industrial buildings in Telford.

Designed by Fletcher Rae and constructed by Morris property, Pioneer Park at Halesfield 18 was developed on a speculative basis following a £4.5million funding injection by West Midlands Combined Authority (WMCA), managed by Frontier Development Capital (FDC).

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