Leading Midland developer Stoford and La Salle Investment Management have completed the first freehold sale of a speculative warehouse unit at Vale Park West in Evesham.
Matcon, which produces powder handling systems for process companies worldwide, has bought the 30,000 sq ft unit, the largest of three available on site at the 40-acre business park, as its new headquarters and assembly plant.
The company will be converting 12,000 sq ft of the high-specification facility to additional offices to enable its 86 UK staff previously occupying two sites in Moreton-in-Marsh and Blockley that are to be closed to work under one roof.
The unit, which comes with a self contained yard and car park area, will give Matcon an additional 25 per cent of office and warehouse space to help meet the 30-year-old company’s expansion plans.
Luxury flooring specialist Karndean International became the first occupant at Vale Park West after agreeing a pre-let on a 75,000 sq ft unit and Stoford is now receiving considerable interest in two other units of 24,500 and 18,000 sq ft.
Vale Park West, which enjoys direct access off the A46 Evesham bypass and is just ten miles from Junction 5 of the M5, has outline planning consent for production, warehouse and office buildings available on a freehold or leasehold basis.
Charles Lee, Managing Director of Matcon, said: “Moving to Vale Park West is a very welcome milestone for us in our 30th anniversary year. The new premises and the surrounding environment will enable us to present a modern, professional world-class image to our global customers, in keeping with our overall business profile.
“Furthermore, the consolidation of our offices and assembly operations, coupled with a better road network and easier access to staff and support services, will enable us to work more effectively, bringing with it considerable efficiency gains.”
Andrew Bolitho, LaSalle Investment Management Director, said: “This investment by Matcon confirms the strength of this location and we look forward to building on this success.”
Dan Gallagher, Stoford Director, said: “We are delighted to have attracted such a prestigious worldwide name as Matcon to Vale Park West with a freehold sale. “It shows that speculative sales of high-specification office and warehouse units in strategic locations have now joined pre-lets in leading the UK commercial property market out of recession.”
Agents for Vale Park West are the Birmingham office of BNP Paribas Real Estate and the Gloucester office of Alder King.