A leading commercial property specialist has successfully completed a series of deals at a thriving business park – with more still to come.
Coventry-based Bromwich Hardy has completed the letting of two units at St Modwen’s Meon Vale Business Park in Stratford-upon-Avon and also negotiated the re-letting of two further bays.
Bromwich Hardy partner David Penn said the firm was also close to finalising a letting deal for a further property at the 900,000 sq ft park close to junction 15 of the M40.
David said the Keplin Group – one of the UK’s leading wholesale distributors of high-quality products – had taken 75,000 sq ft at Building 38 on the park.
The deal comes after Bromwich Hardy also clinched agreement for Berkeley International Logistics to let Bay 3 at Building 23 and also re-let Bays 1 and 2 in a deal covering more than 37,000 sq ft.
A further deal for the letting of a self-contained warehouse and yard at Building 711, covering nearly 5,000 sq ft, was also close to completion, David said.
‘Meon Vale is an excellent park boasting a fantastic location, and we are seeing strong interest from logistics and distribution firms in particular at the site,” David said.
“The industrial market across the region remains strong due to a combination of our historic strengths in manufacturing and engineering and also the fact that we sit at the heart of the UK’s communications network.
“Industrial rents have risen by more than seven per cent over the last 12 months with the logistics market and light industrial sector running considerably above that mark. That means that market rents in Coventry are the second highest in the West Midlands region, just behind Northampton.
“There is, of course, a huge need for more commercial land to be made available to help meet the demand that we continue to see.”
Bromwich Hardy is joint agent for the site with Darby Keye.