B&R Properties - Offices Development - Wolverhampton Business Park
Date: 27 Apr 2004
A planning application for the next phase of development at Wolverhampton Business Park is set to provide rare freehold opportunities to the commercial property occupier.
Joint venture partners B&R Properties and Peveril Securities Limited, developers of Wolverhampton Business Park have submitted a planning application to Wolverhampton City Council for Charter Court, the second phase of offices for the 30-acre park which includes a 28,700 sq ft (2666 sq m) development of eight self contained office suites that will be available on a freehold or leasehold basis.
Subject to planning approval, work on the office suites that range in size from 1,100 sq ft (102 sq m) to 10,700 sq ft (994 sq m), is expected to start on site this summer. The buildings will be built to a high specification including comfort cooling and raised access floors and will have 129 car parking spaces.
Jonathan Rogers, Director of B&R Properties, said: "With the serious fluctuations in the financial markets, more and more private investors are looking to property to secure their future security. Despite the markets now being more balanced, we are offering what is becoming a much sought after opportunity. That is, to buy rather than simply to let. We know that many SMEs who have rented for years are also looking for a change in their property status and this provides this opportunity for them too."
Venture Court, the first phase of office development at the Park, is now fully let and sold. The two two-storey buildings provide 30,000 sq ft (2787 sq m) of office space with 136 dedicated car parking spaces.
Alfred McAlpine and Persimmon occupy Venture Court Two. Bromford Housing Group, one of the UK's most active Housing Associations, bought the second office building at the start of the year which is also home to KGJ Insurance Group.
Ralph Jones, Managing Director of Peveril Securities Limited, added: "Wolverhampton Business Park has gained a reputation for being a high quality base set in a central location. Charter Court is the next stage of developing, what has become, a key business location for the region. Not only on a strategic level for companies looking to move here but also on an employee basis. The park offers a fantastic environment for employees who are the most valuable asset most companies have."
Wolverhampton Business Park is located adjacent to Junction 2 of the M54, on the A449 Stafford Road and is close to the new M6 toll road. The Park provides occupiers and tenants with easy and immediate access to the Midlands comprehensive motorway network and to local commercial centres via extensive public transport links.
Existing tenants already use a range of on site leisure and amenity facilities including Esporta Health and Fitness Club and Whitbread Travel Inn and Restaurant.
Joint agents for the scheme are GVA Grimley and Bulleys.
The next phase of development at Wolverhampton Business Park
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