GVA Grimley - Offices Development - Wolverhampton, Wolverhampton Business Park
Date: 15 Oct 2004
Joint venture partners B&R Properties and Peveril Securities celebrated on the 13th October the start on site of the second phase of office development at the 30 acre Wolverhampton Business Park, bringing rare freehold and leasehold opportunities one step closer to the commercial marketplace.
Contractor Bowmer and Kirkland will complete the 30 week, £5m Charter Court contract in early Summer 2005. Charter Court will provide 32,447sq ft (3,014 sq m) of office space in three self contained buildings that will be available on a freehold or leasehold basis. The three office buildings of 12,289sqft (1,142 sq m), 10,504sqft (976 sq m) and 9,654sqft (897 sq m) 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: "We are delighted to be able to announce this news. Wolverhampton Business Park is proving to be an attractive business location generating interest from many sectors and from businesses of all sizes, especially since the opening of the M6 Toll road. Demographic survey results and of course our own market knowledge, reveal that the Park is an ideal location for inward investment with a large pool of available labour from which to draw a skilled, competitive workforce.
"Venture Court has already proved to be successful and we are already working on a number of enquiries regarding Charter Court and look forward to securing new occupiers for the Park in the very near future"
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 (2,787 sq m) of office space. 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: "There is still a shortage of high quality office accommodation throughout the West Midlands and Charter Court will go some way to addressing this need.
"Despite financial markets becoming stronger and more stable, many SME's have turned their back on traditional pension schemes in favour of investment in property. The outlook for the commercial market remains buoyant and Charter Court is an ideal vehicle for investment."
Joint letting agents Andrew Venables of GVA Grimley and Noel Muscutt of Bulleys agree that: "Charter Court comprises an important further phase in the development of Wolverhampton Business Park which will no doubt build on the success of Venture Court. The Park, with an original consent for up to 450,000 sq ft of B1 accommodation, can also accommodate larger occupiers on a design and build basis if required."
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 offers occupiers easy and immediate access to the Midlands comprehensive motorway network.
Existing occupiers 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.
Andy Venables, Noel Muscutt, Janathan Rogers, Ralph Jones
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