A speculative development which will help meet a shortage of commercial property in Coventry has been completed.

Two new industrial units totalling 17,000 sq ft have been built at Henley Road Industrial Estate by Coventry-based commercial property company The Wigley Group, which owns the site.

Strong interest has already been shown in the leasehold of the adjacent 7,252 sq ft and 8,700 sq ft units which are now available through commercial property agents Bromwich Hardy and GVA.

James Davies, director of The Wigley Group, said: “We have made a significant investment in this speculative development due to the recognised shortage of commercial property in Coventry.

“The clear demand for space for businesses to grow, invest and create jobs gave us the confidence to build out the scheme on what is already a thriving, multi-tenanted industrial estate.

“We are delighted with the finish. Both units have been built to a high specification for general industrial use with good circulation space and car parking.”

The 125,000 sq ft estate was purchased in the late 1990s by The Wigley Group, which owns and manages business and industrial parks across the Midlands and provides services relating to commercial property, construction and risk.

The works were completed by Wigley Building and Development, the construction arm of The Wigley Group.

Rob Watts, senior surveyor at GVA, said: “There is a significant lack of industrial units of this size in the market, especially new builds. We have not seen developers build to this scale and quality in recent years and initial interest has been strong.”

James Brookes, associate partner at Bromwich Hardy, said: “This is a well-positioned industrial estate in the north of Coventry, close to junction two of the M6.  It is already home to storage and distribution companies and the new units would be particularly attractive as a logistics depot.”