A leading commercial property estate agent is poised to complete the first unit sale at a flagship industrial park in Coventry – months before it is due to be completed.
Albion Enterprise Park will provide 20 units for sale, ranging in size from 1,000 to 3,000 sq ft, to help meet growing demand for commercial space and to benefit local small and medium-sized businesses (SMEs).
Such is its appeal, Coventry-based Bromwich Hardy, which is marketing the 1.88-acre brownfield site in Endemere Road, has already been instructed by Inspire Technology Ltd to reserve a unit – even though construction only began in May.
The industrial park is being constructed by Tyto Contracting Limited and project managed by Tetra Real Estate, both part of the Wigley Investment Holdings portfolio of companies.
Bromwich Hardy Surveyor Mark Booth said: “The region has been calling out for more high quality industrial developments like this for a number of years now, so it is a pleasure to be involved in matching these units up with occupiers and investors.
“With a developer like Tetra Real Estate, their reputation precedes them, which is why our first buyer had the confidence to purchase a unit before steels were even up.”
Albion Enterprise Park is expected to take around 12 months to complete with the first units available for occupation by the summer of 2025.
For Chris Parsons, Managing Director of Tetra Real Estate, the proposed sale is especially meaningful having been involved with the site all the way from the first designs, costing and planning through to the construction phase.
“We’re thrilled Albion Enterprise Park has attracted a prospective tenant so early in its construction,” he said.
“This sale represents a significant milestone in the project and demonstrates just how great the need is for commercial space in and around the city.
“We fully expect to have a healthy number of businesses waiting to move in when building work finishes next summer.
“Partly because this well-connected location will service what is a clear demand for commercial space, but also because we’re confident of delivering units of a high standard and specification that upwardly mobile businesses will naturally want to capitalise on.”
The development is one of two new industrial parks in the region Tetra Real Estate is overseeing thanks to a loan from Warwickshire County Council’s enterprising Property Infrastructure Fund (PIF), managed by global real estate advisor, CBRE.
The PIF is the property strand of the Warwickshire Investment Fund (WIF) which supports the provision of sites and premises which are designed to drive growth of the local economy.
Councillor Martin Watson, Portfolio Holder for Economy at Warwickshire County Council, said: “The availability of smaller light industrial units is constrained locally which is why the Albion Enterprise Park development presented a great opportunity to deploy the Property Infrastructure Fund to support the provision of this kind of space.
“While the county of Warwickshire and the city of Coventry are home to many large global businesses, we know that small and medium sized businesses are major employers locally and nationally, and essential to local supply chains. It’s great to see the Fund supporting this development and the businesses that will benefit from the new space.”
Albion Enterprise Park will provide sustainable and modern industrial units with office and storage space along with 72 car parking spaces. It is close to the A444 with easy access to the M6 and M69.
Tetra Real Estate has collaborated with Warwickshire County Council and global property advisors CBRE in funding the project.
