COVENTRY PROPERTY FIRM SEES SUBSTANTIAL UPTAKE IN COMMERCIAL STOCK
A Coventry property, risk and facilities management company has witnessed a substantial uptake in commercial stock with occupancy levels rising to 96 per cent.
The Wigley Group, which owns and manages several business and industrial parks across the Midlands, has let around 200,000 sq ft of space across 10 different lettings through Coventry-based commercial property agent Bromwich Hardy.
The deals, completed over the last 12 months, signal the returning strength of the Coventry commercial property market, bringing fresh inward investment to the area.
The largest transaction for The Wigley Group included the letting of 88,000 sq ft premises, located off John Wigley Way in Foleshill, Coventry, to London-based recycling and haulage firm Dancebuy.
James Davies, director at The Wigley Group which is based at The Cobalt Centre in Siskin Parkway East, said: “We are very pleased to have witnessed a hive of activity over the last 12 months with substantial demand for high-quality office and warehouse premises.
“Henley Park Industrial Estate has become a hub for large international companies looking to open in the UK with both Atlantic Fluid Tech and Interserve Fire Services able to expand at the site.
“We are now looking at a range of development opportunities after occupation levels rose from 73 per cent to 96 per cent and have outlined plans to build additional warehouse premises at Henley Park in the next year.”
Bromwich Hardy is at the forefront of activity, having won the 2014 Estates Gazette Award for Warwickshire and finished top of Commercial Property analyst’s listing for Coventry and Warwickshire with 112 leases, sales and purchases over the past 12 months, almost double its nearest competitor.
James Brookes, of Bromwich Hardy, added: “We have been successful in attracting a variety of businesses to several estates across Coventry with the premises on site suitable for industrial and warehouse use.
“We have certainly witnessed a renewed strength to the commercial property market and it is great to have been able to bring new inward investment to Coventry.
“It is however important that we continue to identify development opportunities as the recent influx in activity is already leading to a shortages in high-quality stock.”