MEPC has completed its latest speculative development of 125,000 sq ft of industrial units at Silverstone Park on time and on budget. The units range in size from 5,000 sq ft to 30,000 sq ft under one roof and 50% of the scheme is already under offer.
The HQ-style industrial units provide a blank canvass, ready for an occupier’s bespoke fit-out. They stand in newly landscaped campus style facilities, opposite the main entrance to the Silverstone Grand Prix circuit.
MEPC’s Roz Bird, Commercial Director for Silverstone Park, commented: “We are delighted with this new development, the latest stage in MEPC’s plan to create a global destination for high tech engineering, innovation and business development at Silverstone Park.
“Fifty per cent of these new units are already under offer and we are aware that there is a reducing supply of accommodation of this size in the area.
“We and our appointed letting agent Dowley Turner Real Estate very much look forward to taking enquiries and conducting viewings – without obligation – with high tech companies seeking more space and also at the scenario planning stage.”
She added: “We are close to agreeing the details of our Enterprise Zone status with Buckinghamshire Thames Valley Local Enterprise Partnership. These new units fall within that zone.
“Once agreed companies will be able to apply for business rate relief of up to £55,000 per year or £275,000 in a five-year period. This could make a real difference to high growth companies who need to keep an eye on cash flow but who would benefit greatly from being located at Silverstone Park.”
MEPC’s Senior Development Manager Ben Leefield said: “We are delighted to complete this project on time and to budget – the construction of these new units is to a very high standard and our appointed building contractor Readie has been excellent to work with. We look forward to welcoming stakeholders in a few weeks for an official opening.”
