Stoford Developments is speculatively building four warehouse units totalling 180,000sq ft at its Spa Park scheme in Leamington Spa.
One 50,000 sq ft unit has already been signed up by Liberty 920E, as a global hub for its research and development and engineering expertise, while a further three units of 30,000 sq ft, 40,000 sq ft, and 60,000 sq ft, remain available.
Contractor Benniman has been appointed to undertake the first tranche of phase three construction, which is due for completion in Q4 this year.
Dan Gallagher, joint managing director at Stoford Developments, which is developing the site jointly with asset management company BlackRock, said: “Starting on phase three of Spa Park is a key milestone in this significant development that could bring hundreds of jobs to the area. There is still huge demand for business units and warehouses of this size in the region, which has a long track record for advanced manufacturing and engineering industries.”
Stoford is retaining a large portion of the site that will enable it to construct units ranging from 30,000 sq ft – 290,000 sq ft on a build-to-suit basis.
Paul Tebbit at BlackRock said: “We are pleased to be on site in Leamington working in partnership with Stoford once more, following on from our recent project in Siskin Parkway West, Coventry, where we successfully built and let 310,000 sq ft in two buildings. Spa Park forms part of BlackRock’s strategy to build and own best in class, strategically located logistics assets within the BlackRock UK Property Fund, which now stands at nearly £3.5bn. Spa Park offers access to a strong skilled labour pool, good infrastructure and connections and importantly a significant power supply.”
Spa Park is located, close to the A46 and junctions 14 and 15 of the M40.