As property values throughout the country begin to edge towards pre-recession levels, local authorities are keen to approve developments which could boost local economies. This has seen North Warwick Borough Council give the green light to an extension of the Centurion Park scheme close to Tamworth.
The existing units at Centurion Park, which is owned by a number of different freeholders, is now fully let and developer St Modwen will now create a further 20,000 sq ft development as a means of providing additional supply for the area’s high demand for commercial property.
Centurion Park has proved highly popular with logistics firms, and the new development is expected to comprise of high quality industrial space. Construction is scheduled to begin imminently, as early preparation work on the site has already been conducted.
Surveyor Jonathan Green of St Modwen believes that the new extension will prove highly popular with potential occupiers.
He says; “The site is now ready and new units can be built to meet the requirements of occupiers looking for well-located space.
“The site has superb transport links and the first stage of the development will be of significant benefit in meeting the growing demand for high quality industrial stock that continues to develop as the market continues to strengthen.
“With a number of logistics and distribution firms already based in the area, occupiers can be confident of the proven location at the heart of the country – furthermore, the site will benefit from St Modwen’s estate management and amenities including security, high quality infrastructure and building design.”
St Modwen has a long history of investment in Tamworth, as it has been involved in the management of Centurion Park since it completed the first phase of development in 1994.
St Modwen recently completed the £50 million town centre regeneration scheme in Hednesford and the £1 billion regeneration of Longbridge.