Leading property developers Stoford Developments has submitted plans for the third phase of a multi-million pound business park in Leamington Spa that could bring hundreds of jobs to the Warwickshire town.
Spa Park, the joint proposed development with leading asset management company BlackRock, will transform the 31.7 acre site on Tachbrook Road – once home to Leamington’s largest employer Automotive Products – with the construction of seven industrial units.
The warehouses, complete with ancillary offices, will be available from 36,000 sq ft – 288,000 sq ft and will be suitable for light industrial/business, general industrial and storage and distribution (B1, B2 and B8 classes).
Plans have now been submitted to Warwick District Council for the development, which is in an allocated employment site within the local authority’s local plan.
Stoford hopes to start phase one in 2018, with an expected completion date of summer 2019. Construction of phases two and three, which will deliver units that could begin as early as 2019.
When fully operational, Spa Park will create hundreds of new jobs and bring further investment to the area.
Dan Gallagher, Stoford joint managing director, said: “This is a significant development that will not only bring forward much-needed jobs in the construction sector, it will also create warehouses and business units of a size that are very much in demand in this area. We are confident that this new scheme will generate huge interest from prospective occupiers.
“With phases one and two of Spa Park already built, there remains strong demand for units of this size and we are already experiencing a great deal of interest in this third phase.”
It is the fifth time Stoford has joined forces with development partner BlackRock. This year it began the construction of Carbon 103, a 103,300 sq ft speculative development at Siskin Parkway West, Middlemarch Business Park, Coventry, which is expected to reach practical completion by the end of this year. It is close to Carbon 207, a 207,340 sq ft warehouse/distribution speculatively developed by the two companies.