Plans for an industrial site in Newbury are set to create 60 new jobs thanks to a redevelopment deal structured between Aviva Investors and commercial property experts at Vail Williams.
Travis Perkins Group has purchased the quasi office / industrial investment known as Silverbridge House on the Hambridge Road Industrial Estate. The site will be developed into a Wickes store and two other facilities under the Travis Perkins fascia.
Travis Perkins Group acquired the 0.88 hectare site on condition of gaining planning permission for a new 3,670-square metre unit divided into three separate business spaces, including mezzanine levels. The application was approved by West Berkshire District Council in June.
Vail Williams Associate Charlie Nicholson said: “This is great news for Newbury’s local economy because it creates jobs, builds on the UK’s economic recovery, and brings fresh investment and activity to the Hambridge Road area of Newbury.
“Before they have even been constructed, the three sub-units are earmarked for Wickes and the wider Travis Perkins Group of Companies. That’s a very satisfying turnaround for once empty premises whose layout and structure made it a big challenge in the recent economic environment.
“The industrial estate is perfectly placed for business: it’s near a train station, it’s surrounded by commercial operations, and occupiers can recruit from the skilled workforce in Newbury.”
The new unit will be divided into three. Wickes will occupy the biggest space (2,462 square metres). There will be two other 604-square metre facilities, both of which will be occupied by a Travis Perkins Group company.
As well as floorspace, the new development will feature external storage and display, servicing areas and parking for 67 cars and 18 bicycles.
Aqleem Khokhar, Senior Property Acquisitions Manager at Travis Perkins Group, said: “This is great news for Travis Perkins and for the wider area as it will bring jobs and business opportunities. The site is perfect for our operations and Vail Williams did an excellent job making sure the transaction progressed smoothly.”
