Quartet Makes Record at Stonebridge Cross
Stoford and Axa Investment Managers are celebrating a record run involving a quartet of deals at their flagship Stonebridge Cross development at Droitwich. Deals totalling 220,000 sq ft have been concluded since the turn of year with all four buildings now under construction.SC501, a46,000 sq ft showroom and warehouse, has been pre-sold to Sussex- based JCC Lighting. Due for completion in early Autumn 2006 the building will serve as a Midlands distribution centre and trade counter.
Groundworks are also underway for building SC404, a 54,000 sq ft showroom and warehouse pre-let for a term of 15 years to AKW Medicare, a rapidly expanding Worcester-based manufacturer and distributor of mobility and disability aids. Andrew Davies, Financial & Operations Director for AKW highlighted the lack of suitable premises elsewhere in Worcestershire “There was nothing suitable in Worcester, yet we needed somewhere within easy reach for our existing staff.”
Another local manufacturer, Barton Cold Form, is investing over £3million in SC402, a 52,500 sq ft production facility. Since a management buy-out five years ago, Barton Cold Form has trebled its output of specialist components for the motor, household appliance, building and electrical industries.
As a result, it has been forced to find new accommodation, according to Chairman Eric Forgan “We have simply outgrown our existing premises and we urgently needed a production facility suited to the demands of modern, world class business. Stonebridge Cross was the perfect solution to our needs,” added Mr Forgan. “It’s an excellent environment, ideally placed and we were able to have a major input into the design and build.”
The fourth and most recent transaction completed is a new 15-year pre-let to existing Stonebridge Cross occupier Kimal. The company will be moving from their existing warehouse into SC401, a new 67,000sq ft building.
Jason Adderley, Stoford’s Business Development Manager commented “Of course we’re delighted with the commencement of four new buildings at Stonebridge Cross. This is the culmination of an intense period of hard work by our agents and consultants. However, we still have a further 15 acres left to go at, and we hope to make some further exciting announcements shortly.”
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