Stoford has sold its 11 acre Fairway Business
Park site in Leicester to recycling and waste management specialists Casepak. The former playing fields of the British Shoe Corporation in Sunningdale Road was bought by Stoford’s subsidiary company Stoford Ventures from Merrill Lynch – now Black Rock – back in March 2008 with the intention – and planning permission – for building 265,000sq ft of warehousing. The prime site, just one mile from Junction 21A of the M1 motorway will be developed by Casepak as a new waste transfer facility to complement their existing site in Enderby. Dominic Stokes, Director of Stoford said, “In a sluggish industrial land market the offer from Casepak was particularly attractive, and demonstrates the quality of the location, and the favourable planning consent secured by Stoford.” Peter Doleman, Director of commercial property agent Innes England who acted on behalf of Stoford added, “This sale emphasises that, given the current economic climate, there are still a considerable number of organisations which are successful and are looking to acquire new facilities to enable them to expand. The local market needs to keep an eye on this activity to ensure that we don’t end up with a lack of quality employment land as we pull out of the recession.” As part of the original negotiations for the site, Stoford contributed £750,000 to enhance sports facilities for under-privileged areas of the city. Sturgis Shattock and Partners acted on behalf of Casepak in the deal.