Strutt & Parker - Industrial Development - Harlow, Harlow Business Park

Date: 21 Sep 2005

Marshgate Developments Ltd will shortly commence construction of 40,870 sq ft of industrial and distribution accommodation at Harlow Business Park, Essex, following its recent purchase of plots 11 and 12 - a total of 2.3 acres - for £1 million from the owners of the park, O&H Properties Ltd.

The planning consent is for 14 industrial and distribution units ranging from 1,750 sq ft to 4,480 sq ft, the freeholds of which will be sold to owner occupiers. Marshgate Developments Ltd received planning consent in July.

Strutt & Parker's Charles Lochrane, Investment Partner - National Markets, comments:

"This is the latest acquisition for Marshgate Developments which adds to its current programme of developments aimed at industrial owner occupiers throughout the UK. In addition, Marshgate has also started to develop out a number of sites throughout mainland Europe particularly France and Germany. There has been a good level of demand from owner occupiers and we are delighted that nearly half of the space is already spoken for at Harlow Business Park."

Strutt & Parker is development consultant for Marshgate Developments Ltd and acted on the purchase of the site. Glenny acted for O&H Properties Ltd.

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