St. Modwen, the UK’s leading regeneration specialist, has signed up a new tenant to Meon Vale Business Park, near Stratford-upon-Avon in Warwickshire.
Ford Retail Ltd has agreed a five-year lease to occupy an existing 10,000 sq ft warehouse and storage unit, along with seven acres of open storage land at the site. The new letting brings occupancy levels at the Business Park to 97 per cent and creates an additional 12 jobs on site.
Part of the Ford Retail Group of companies, Ford Retail Ltd supplies a range of vehicles to Ford Motor Dealerships across the country and as part of the deal will relocate to Meon Vale in March.
Meon Vale Business Park benefits from a permanent planning consent for approximately 860,000 sq ft of distribution and warehouse accommodation supplemented by open storage land.
The Business Park forms part of a larger 479 acre site that is being transformed into a new community, comprising 284 dwellings currently under construction by joint development partner Persimmon Homes, alongside supporting facilities, including a community centre, sports hall and pitches and a retail convenience store.
Peter Rudd, senior development surveyor at St. Modwen, said: “We’re really pleased to have signed a deal with Ford Retail Ltd for warehouse space and substantial open storage space at Meon Vale Business Park.
“This is further proof of the attraction of the Business Park, where we only have two 10,000 sq ft units still available.”
He continued: “Meon Vale represents a significant residential and employment development. We look forward to welcoming more businesses to the site and to continuing with our aim to create a mixed use sustainable environment.”
Tom Bromwich of Bromwich Hardy and Melissa Wase-Rogers of CBRE acted as joint agents on the deal.
Tom Bromwich added “ This is testimony to the strengthening commercial property market and the attractive nature of Meon Vale as a Business Location, offering both open storage land and buildings.”