Vale Park Bears Fruit

Stoford, together with LaSalle UK Ventures has acquired the second phase of Vale Park, Evesham, Worcestershire.

The deal represents Stoford’s largest land transaction in recent years and the site, which extends to some 40 acres net developable, has been acquired off-market from Cirrus Properties and Barberry Developments.

Outline planning consent has been granted for around 850,000 sq ft of office, industrial and warehouse accommodation, with Stoford and LaSalle committed to a further 20 acres of landscaping and forestry.

Initial infrastructure and development works are scheduled for early 2007, with the first completed units due to come to market by early 2008.

Stoford Development Manager Jason Adderley said “The development of Vale Park will build on Stoford’s Worcestershire successes at Stonebridge Cross and Ravensbank. The local and regional market is very buoyant currently and Vale Park is the last remaining volume site on this part of the M5 corridor.”

LaSalle Investment Management is providing site acquisition and development funding through their new £1 billion UK Ventures fund. Vale Park is the first acquisition within the fund.
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