Network Space’s Tunstall Arrow, an £11m speculative industrial development in Stoke-on-Trent is now fully let.
The 130,000 sq ft first phase of the scheme in Tunstall officially launched in September 2018 with five detached industrial units ranging from 10,208 sq ft to 43,500 sq ft in size.
Built by Caddick Construction to a high specification, each unit comes with its own self-contained yard as well as office space.
At the Tunstall Arrow launch, three pre-lets were announced including premium international balustrade manufacturer, Q-Railing and Netherlands based Boels Rental, the largest provider of hire equipment and tools in Europe.
Pramac-Generac UK, which manages and distributes its world leading brands, Pramac Power Generation and Generac Mobile Products to the hire, rail, construction and infrastructure sectors, amongst others throughout the UK also announced that it was moving to the site.
The two most recent signings include German logistics company, DHL Express, the providers of international courier, parcel, and express mail services have taken 35,315 sq ft and are set to move to Tunstall Arrow in March 2019.
While, Australian fleet management and leasing company, SG Fleet Group has taken the fifth and final unit from this first phase of development and will occupy 20,452 sq ft.
Tunstall Arrow was developed in partnership with Stoke-on-Trent City Council, with grant funding coming from the Ceramic Valley Enterprise Zone Development Fund. The Ceramic Valley is one of 48 enterprise zones across the UK and has the potential to create up to 6,700 jobs. The zone covers 3.3 million sq ft of commercial space across six key sites along the A500 corridor.
Simon Peters, development director at Network Space, said: “As a speculative development, we were delighted to let three out of the five units prior to completion. To now have the scheme fully let so soon after completion is testament to the quality of the units and location and of our ability to work positively with occupiers. The scheme will now be managed by our sister business Network Space Management Ltd who will ensure that the quality of our investment is maintained.
“We are now planning phase two of Tunstall Arrow where we intend to deliver a similar scheme of 10,000 to 30,000 sq ft industrial units.”
Peter Davenport, managing director of SG Fleet, said: “Following the acquisition of Motiva Group in Stoke-on-Trent, we are proud to be continuing our investment in the city and are excited to be relocating to a prestigious and geographically well-placed facility as Tunstall Arrow.”
Richard Mounsey of Mounsey Surveyors who marketed the scheme, said: “We were delighted that Network Space committed to developing these units, they took our advice on market demand and built high quality business units that suited occupiers very well.
“The scheme is one of the most successful that we have dealt with. All units were let or under offer before practical completion which is a first for us. We are not aware of any other speculative build scheme where this has been achieved.”
Councillor Abi Brown, deputy leader of Stoke-on-Trent City Council and chair of the Ceramic Valley Enterprise Zone, said: “The Enterprise Zone is continuing to realise the huge potential we always knew it had – and the wonderful news that Tunstall Arrow is now fully let shows just how attractive it is.
“We have worked with developers such as Network Space from a very early stage and this has been a key part of the success of the Enterprise Zone. Following so much hard work from people across this ambitious project, Stoke-on-Trent is now seeing the benefits, and these will continue for years to come.”
Councillor Janine Bridges, cabinet member for education and economy, said: “The Tunstall Arrow development and wider Ceramic Valley Enterprise Zone is helping to bring both national and international businesses here, which is fantastic for Stoke-on-Trent.
“It demonstrates the confidence and ambition that is growing in the local economy, and it’s great news for the local workforce and our young people who are moving into the world of work. We’re now looking forward to Tunstall Arrow’s second phase and the further boost this can bring to investment and jobs.”
Work is due to start on the next phase of Tunstall Arrow later this year.