Construction is nearing completion on a speculative development within a thriving industrial estate in Coventry to help meet a lack of commercial property in the city.
Two industrial units totalling 17,000 sq ft are being developed at Henley Road Industrial Estate, off Henley Road, by Coventry-based commercial property company The Wigley Group, which owns the site.
Work on the 7,252 sq ft and 8,700 sq ft new build units is due to be completed in May by The Wigley Group’s construction team.
Strong interest is expected in the leasehold opportunities available through commercial property agents Bromwich Hardy.
Robert Wigley, managing director of The Wigley Group, said: “There is a distinct shortage of commercial property in Coventry and this development will help to address the demand.
“Both units are being built to a high specification for general industrial use and the 8,700 sq ft unit has a disproportionately large yard which lends itself to most uses including leisure.
“Henley Road Industrial Estate has always proved to be a popular location. It is well positioned in the north of Coventry close to junction two of the M6 with easy access to the centre of the city.
“It is a thriving multi-tenanted estate and this expansion at the rear of the site will enhance it even further.”
The 125,000 sq ft estate was purchased in the late 1990s by The Wigley Group, which owns and manages business and industrial parks across the Midlands and provides services relating to commercial property, construction and risk.
Nick Abell, vice-chairman of the Coventry and Warwickshire Local Enterprise Partnership (CWLEP) and chairman of Wright Hassall, was invited to tighten the last bolt in the final steelwork.
He said: “Speculative builds are a very good barometer of a local economy, so it is really encouraging that The Wigley Group has invested in this project in Coventry, confident that it will be able to attract a tenant.
“That in turn will bring further investment and new jobs to our area so it is extremely welcome. We are seeing a growing number of developers investing in the market with speculative developments and that bodes well for the future.”