Commercial Property Development

Providing warehouse and office buildings for industry and commerce

Leicester Site Acquired for Sheds

Stoford Developments has taken advantage of pent-up demand for distribution space in the Midlands’ ‘golden triangle’ by purchasing one of the last remaining prime employment sites in Leicester.

The Birmingham developer has planning consent to build up to 265,000 sq ft of distribution and warehouse accommodation at 12-acre Fairway Business Park in Sunningdale Road.

The site, acquired from Stoford’s former joint venture partner BlackRock, benefits from a skilled and highly available employment pool as well as a highly accessible location just one mile from junction 21A of the M1 motorway.

Now branded as Fairway Business Park, the scheme was the former playing fields of the British Shoe factory - and following detailed consultation with Leicester City Council and Sport England, Stoford has contributed £750,000 to enhance sports facilities for under-privileged areas of the city.

The purchase was funded through Stoford Ventures in a 50:50 joint venture between Stoford and Uberior Ventures, the equity arm of Bank of Scotland Joint Ventures that is helping to implement Stoford’s future growth plans.

Dan Gallagher, Stoford Director, said: “This investment will open up one of the last remaining prime distribution sites in Leicester to a prospective company looking to relocate to a unit of up to 265,000 sq ft at the hub of the UK motorway network. We are already in discussion with a number of prospective occupiers that are looking to secure a pre-let.”