Construction is now well underway on a new industrial unit on the edge of Coventry which could open up a rare opportunity for a logistics operator to establish in a modern and prime distribution location.
The 27,000 sq ft unit – called Exhall Three due to its proximity to Junction 3 of the M6 – is being built by The Wigley Group as part of a major redevelopment of the site it owns in School Lane, Exhall, following a fire in 2018.
The fire, which was proved to have been started accidentally, destroyed a building which housed the popular Red Kangaroo Trampoline Park.
In addition to creating a new purpose-designed home for Red Kangaroo to provide a state-of-the-art, multi-activity trampoline centre, The Wigley Group is building the adjacent unit for separate leasing.
The speculative development will help meet a recognised shortage of commercial property in Coventry and Warwickshire, and provide a further boost to the local economy with new employment opportunities.
James Davies, managing director of The Wigley Group, said: “We are delighted to see work progressing on Exhall Three which alongside our wider redevelopment of the site, represents a significant investment in the area.
“There is a clear demand for new commercial space and with its close proximity to the M6 and A444, we expect a good deal of interest particularly from within the logistics and industrial sectors.”
The leasehold on Exhall Three is now being offered jointly by commercial property agents Bromwich Hardy and MWRE.
The unit includes around 2,000 sq ft of first-floor offices and features minimum eaves height of 8m, two loading doors, rear yard and parking.
Andrew Cosnett, partner at Bromwich Hardy, said: “Exhall Three will appeal across the board. The location is fantastic and we expect it to be very attractive particularly for logistics operators and last-mile delivery, with the recent and rapid rise in online shopping.
“Exhall and the nearby Bayton Road Industrial Estate are very well-known for manufacturing and there is a good supply of skilled workers locally which would also make it a strong draw within that sector.”
Adam McGuinness, director at MWRE, said: “The availability of new and modern buildings of this type and size in the Coventry and Warwickshire and wider Midlands area is quite limited as supply is typically older stock.
“Across both logistics and industrial sectors there is an increasing importance on creating attractive working environments for staff and a growing need to upgrade image to compete within an increasingly global market place. Exhall Three provides such an opportunity, with the added benefit of more efficient running costs when compared against older stock thanks to the high construction and design standards of this unit – a rare opportunity in a well-connected location.”