About Us | Find Us | Contact Us | Home

9 March 2010

News Archive

Quedgeley West Business Park

St Modwen has started the New Year positively at its 32-acre Business Park scheme in Quedgeley, Gloucestershire with the sale of the Park’s most prominent unit.

The sale of the 12,986 sq ft speculative Unit B has completed with Gloucester-based Shires Accident Repair Centre. The unit, which is situated at the front of Phase 2 with direct frontage to the A38, will create 25 jobs, contributing to the 500 jobs which are expected to be generated across the total scheme once complete.

Ash & Co and DTZ represented St Modwen on the sale.

(Article featured in Business Week during January 2009)

Neptune is boosted by its new tenants

Four new business premises have been let on a Cheltenham business centre over the last four months depsite the recession.

Cheltenham and Gloucester Flowers, Ideal Sports and Furniture Village are the latest companies to relocate to Neptune Business Centre. And Disabled Care & Mobility Ltd have taken on further space following a year of successful trading on site. They have expanded into their adjoining unit which will house their vehicle adaption centre.

They join the likes of Abbey Business Equipment, APD Cotswold and New Barn Cars at one of the town’s most prominent business parks.

A number of units on the business park off Tewkesbury Road were acquired in September by local investment company Head Ruddy Ltd, and these lettings represent an undoubted success story for them so early into their ownership.

Company Chairman Jim Ruddy said: "We saw great potential in the site when the opportunity to purchase the remaining units became available.

"We are confident that the activity seen thus far will continue in order for the estate to continue to establish itself as Cheltenham’s premier business location."

Joint agents ASH & Co and newly appointed KBW are acting on behalf of Head Ruddy.

KBW’s Bob Allen commented, "We saw an increase in enquiry levels for industrial premises during the last quarter of 2009 and we seem to be receiving enquiries from parties who are genuinely looking to acquire, rather than people cautiously entering the market and being influenced by the press surrounding the recession. The success at Neptune reflects this rediscovered confidence and it’s promising to see new businesses taking on space as well as established local and national companies."

Simon McKeag from Ash & Co added, "the latest deal to Furniture Village was completed within 3 weeks of the initial viewing taking place. This is a remarkable result considering the difficult market at present and proves that we are offering extremely competitive terms for some of the best space in town."

The business centre is now 75% occupied and the remaining vacant units range in size from 1,900 sq ft to 5,241. Details of the flexible terms and competitive rents are available from the joint agents ASH & Co (01452 300433) and KBW (01242 244744).

Four new business premises have been let on a Cheltenham business centre over the last four months depsite the recession.

Cheltenham and Gloucester Flowers, Ideal Sports and Furniture Village are the latest companies to relocate to Neptune Business Centre. And Disabled Care & Mobility Ltd have taken on further space following a year of successful trading on site. They have expanded into their adjoining unit which will house their vehicle adaption centre.

They join the likes of Abbey Business Equipment, APD Cotswold and New Barn Cars at one of the town’s most prominent business parks.

A number of units on the business park off Tewkesbury Road were acquired in September by local investment company Head Ruddy Ltd, and these lettings represent an undoubted success story for them so early into their ownership. Company Chairman Jim Ruddy said: "We saw great potential in the site when the opportunity to purchase the remaining units became available.

"We are confident that the activity seen thus far will continue in order for the estate to continue to establish itself as Cheltenham’s premier business location."

Joint agents ASH & Co and newly appointed KBW are acting on behalf of Head Ruddy.

KBW’s Bob Allen commented, "We saw an increase in enquiry levels for industrial premises during the last quarter of 2009 and we seem to be receiving enquiries from parties who are genuinely looking to acquire, rather than people cautiously entering the market and being influenced by the press surrounding the recession. The success at Neptune reflects this rediscovered confidence and it’s promising to see new businesses taking on space as well as established local and national companies."

Simon McKeag from Ash & Co added, "the latest deal to Furniture Village was completed within 3 weeks of the initial viewing taking place. This is a remarkable result considering the difficult market at present and proves that we are offering extremely competitive terms for some of the best space in town."

The business centre is now 75% occupied and the remaining vacant units range in size from 1,900 sq ft to 5,241. Details of the flexible terms and competitive rents are available from the joint agents ASH & Co (01452 300433) and KBW (01242 244744).

(Article featured in the Business Week during January 2010)

Property News South West - January 2010

Here’s hoping it’s a Happy New Year for everyone.

Last year proved to be more or less as predicted with great deals for those with ready access to finance and difficulties for those without. The banks do appear to be relaxing their lending criteria which resulted in an increase in both enquiry levels and transactions during the final quarter of 2009 and this will hopefully continue into 2010.

Despite widespread predictions around the ‘recovery’ during 2010 there remains a fair amount of scepticism. Attention will no doubt focus on the elections in May and if the pre budget report is anything to go by, there will be significant cuts in public spending for the foreseeable future. What effect this will have on the recovery remains to be seen.

Speculative development has continued in Gloucestershire with Robert Hitchins developing an industrial scheme in Tewkesbury. Demand in the 7 units has been strong and despite completion not expected until March, contracts have been exchanged on 3 deals with a further 3 under offer.

At Waterwells Business Park Glenmore Commercial Estates have just commenced Phase I of their latest project (completion anticipated for June 2010) and in the adjacent site Kedwell have recently finished 3 units with more planned. Finally at Gloucester Business Park Clifton Estates completed and disposed of Phase I Pegasus Centre during 2009 and are currently building Phase II.

Occupiers will continue to drive hard bargains and on the whole will probably get their way for the foreseeable future. I believe the lack of requirements for new build will change during the course of 2010 and we will see some deals but only time will tell how many Gloucestershire is able to secure.

I am raising a glass but this time it is half full, last year it was half empty!

A NEW Gloucester shop has defied the recession by going back in time.

Despite the recent credit crunch, a Gloucestershire husband and wife duo have set themselves a challenge by opening their doors to a unique vintage fashion shop.
Time After Time is in historic College Court, a stone's throw from Gloucester Cathedral.
Owner David Ireland said: "As soon as I saw the shop, I knew the location was perfect for us. Other businesses in the Westgate quarter have really embraced the new shop.
"I think people are buying quality rather than quantity nowadays.
"When opening the shop, we were aware shoppers are cutting down on spending but we felt Gloucester city centre would benefit from an injection of luxury and so far the shop has been received really well."
David has a fashion and textiles degree from Cheltenham while his wife Sandra has a background in photography. They both lived in Holland for 25 years where they both say a lot of their ideas and inspiration came from.
Organiser
The couple live in Eastington, near Stroud, and opened their first shop in the town in November of last year.
David also organises vintage fashion and textile fairs in Stroud and in Oxford, and prides himself on his policy of being 100 per cent recyclable.
He said: "Everything we sell and use to display our pieces in is totally recycled and all of our bags are biodegradable."
Every item in the 1920s-style shop has been hand picked and is 100 per cent original.
David added: "One of my favourite items has to be to be a large art deco diamante dragonfly brooch.
"I love the 1920s and 30s as a style era and the brooch sums up a lot of an age which was elegant, yet fun."
Pieces range from the 1840s to 1980s and a showcase full of vintage designer items is on display.
In the current shopping slump David wants to ensure each purchase will be gift wrapped and unique.
"It's like taking a bit of the past home," he said.

ASH & Co let the unit to Stroud Vintage on behalf of the landlords Cabot Investments Ltd.

(Article featured in Business Week during November 2009)

The take up at Brearley Place proves transactions are still achievable in a difficult market.

Brearley Place at Waterwells Business Park has proved to be a success since its completion at the beginning of 2009. The Site was acquired by one of UKs leading used machine tool suppliers - Global Machine Tools UK Ltd who constructed a new facility to relocate their existing showroom from Hempsted which was not longer suitable for their expansion requirements.

The Site was large enough to also accommodate a range of small to medium sized business units, owner Stuart Hall decided to press ahead and develop the remaining land. The new units range in size from 1,500 sq ft to 3,000 sq ft and ASH & Co are pleased to report that 17 of the 20 constructed are now occupied or under offer.

Simon McKeag at ASH & Co confirmed that one of the main reasons for the take up in a difficult market was Mr Hall's ability to give occupiers flexible lease agreements and options to purchase if required. Brearley Place has proved that there is still healthy demand for the right product despite the challenging economic conditions that businesses are currently facing.

Businesses that have relocated to the site include MTFX Special Effects, County Signs, Gloucester Motaquip, Modern Heating, Warm Rooms, System Force and GG Glazing.

(Article featured in Business Week during September 2009)

Fairford, London Road - Former Sedus Stoll premises

ASH & Co are pleased to report that the sale of the former Sedus Stoll premises on London Road in Fairford has recently been completed. The site extending to approximately 7 acres and comprising in excess of 55,000 sq ft of workshop and office accommodation represents one of the largest transactions completed in the county this year.

The property was acquired by Godwin Pumps Limited who have been based in the South Gloucestershire area for over 100 years. John Miller, the Managing Director at Godwin’s confirmed that the company has experienced significant growth in recent years and the acquisition of the site would enable them continue to expand their manufacturing base to satisfy current requirements, both in the UK and overseas, whilst giving them some additional free space to meet their future plans.

The move results in 125 jobs being secured in the area, at this new site and Godwin’s existing manufacturing plant situated a few miles away.

The site was marketed jointly by Houston Lawrence and ASH & Co on behalf of Sedus Stoll.

(Article featured in Business Week during August 2009)

Property News South West - July 2009

Another month closer to 2010 where allegedly safer waters lie; well that’s the view of the CBI who have joined the throngs predicting the UK economy is stabilising but they are not expecting a ‘slow and gradual’ recovery until next year. I won’t get too excited just yet. Based on the year to date, I suspect the remainder of 2009 will see banks continuing to recapitalise, with funds only available to the best placed customers. Occupiers will continue to take stock and hopefully we will see a return to something resembling a market place in 2010.

Activity levels in Gloucestershire have mirrored that in the rest of the country though I’m pleased to report some transactions are taking place. We recently concluded the sale of Unit E Stephenson Drive on Waterwells Business Park. The modern unit extending to circa 27,500 sq ft was acquired by Prima Dental Group who will be relocating from the City Centre. Take up on Brearley Place, a new scheme of small business units has been strong with 15 of the 20 units under offer or occupied since the beginning of the year. Not bad even in a buoyant market. A similar scheme at Dursley has seen levels of demand increase over the last few months. From 14 units we have only 3 left. This is part of the St Modwen/SWRDA regeneration initiative known as Littlecombe.

The much anticipated opening of the Gloucester Quays development took place in May and reports suggest trading and visitor numbers have exceeded expectations. Occupiers include a Travel Lodge, M & S, Next, GAP and Helly Hanson with further tenants to include Sainsburys and a range of retailers committed and due to open over the coming months. The scheme appears to have been well received by the local population and proved to be an attraction to those from further afield. This can only be positive for Gloucester.

We’re told that 60,000 orders have been placed for cars under the UK’s scrappage subsidy scheme since the initiative was announced at the end of April. Pity it isn’t feasible for something similar for property to encourage the redevelopment of the more undesirable areas!

Latest Developments on Littlecombe Business Park

The first phase of the 10 acre business park at Dursley comprising 16 units is now complete. Everhot, the heat storage cooking range manufacturer, has just completed their purchase of the largest detached unit (6,400 sq ft).

Other businesses which have already moved to Littlecombe Business Park include Chris Tallis Farm Machinery Ltd, Avonports Laundry Services who have moved from Charfield, and Rooney and Mills print engineers.

The scheme has been developed by St Modwen plc and ASH & CO are the sole selling agents.

Property News South West - February 2009

I’m struggling to write anything that hasn’t featured in recent publications either positive or negative, which suggests that the property market has maintained a status quo. Yes, enquiry levels remain down; finance is still difficult to obtain for many with the main obstacle being a lack of affordable mortgage credit and there remains a not surprising air of caution amongst those purchasers or tenants considering relocation. Not the ideal conditions to conduct business by any stretch of the imagination.

Typically there is a good supply of quality office and industrial accommodation throughout the region when the demand has gone A.W.O.L. The majority of enquiries that we are currently fielding tend to be from small to medium sized businesses or cash rich investors, both of whom at least appear keen to take advantage of the deals on offer. Those landlords and vendors who have been willing to lessen their expectations have been able to meet these requirements but in some instances there is still a gap to bridge.

There have been a few noticeable changes in the market place to include the availability of commercial land, something that has been difficult to obtain. There is unlikely to be many developers willing to acquire and sit on this asset until there are at least some signs of recovery. The number of Client Requirements being circulated has reduced suggesting the larger companies have placed potential relocations or expansion on hold for the time being.

The continuing negative press is certainly helping to keep morale low and until confidence picks up, I suspect we can expect not only the property market but economy in general to remain as is for the foreseeable future.

First Occupiers move onto Littlecombe

Littlecombe Business Park, is part of a flagship regeneration scheme designed to bring new employers to the town and safeguard existing jobs. The first phase of the 10 acre business park comprises 16 units for small and medium enterprises with a total floorspace of 27,900 sq ft. It includes one 6,400 sq ft detached unit and another 15 that range from 1,000 to 2,000 sq ft, which are suitable for industrial, warehouse and office uses.

Everhot, the heat storage cooking range manufacturer, has just completed their purchase of the largest detached unit (6,400 sq ft).

Pete Davies, development surveyor, St. Modwen says:

“Occupiers have already committed to take approximately two thirds of the space available at the first phase Littlecombe Business Park, following completion earlier this year. This is particularly encouraging in the current economic climate and we anticipate announcing further details of occupiers moving to Littlecombe later in the year. The remaining available units offer accommodation from 1000 – 2,000 sq ft and the ongoing demand is primarily from both local and regional companies seeking a unique opportunity to purchase their own business premises.”

Guy Goring of Everhot adds:

“We have taken the opportunity presented at Littlecombe Business Park to purchase premises to expand operations from our existing premises in nearby Coaley Mill. Littlecombe Business Park offers well designed and constructed accommodation with highly sustainable credentials in construction, heating and future building energy use which mirrors our own approach to manufacturing quality handcrafted electric heat storage cooking ranges”.

Other businesses which have already moved to Littlecombe Business Park include Chris Tallis Farm Machinery Ltd, which has occupied two units in addition to their existing sites at Evesham and Bibury, Avonports Laundry Services who have moved from Charfield, Gloucestershire and Rooney and Mills print engineers.

All of the business units at Littlecombe Business Park have been built to the highest standards and achieved a BREEAM Excellent rating. The BREEAM system is the established way of measuring the environmental impact of new buildings and the high rating means they will meet increasingly tough environmental regulations for years to come.

The business park will also be heated by an on-site wood-burning “biomass” district heating system, providing a sustainable alternative to fossil fuel power. Combined with the high quality of the buildings, this will help to cut the occupational costs for businesses.

The Business Park is part of the wider 92 acre regeneration at Littlecombe which will see the creation of a new community comprising 600 homes, community facilities and employment space. (16/10/2008)

Stroud Business Centre, Stonehouse

Acting on behalf of a private client, ASH & Co have recently completed the acquisition of Stroud Business Centre in Stonehouse.

The estate is located on the popular Stroudwater Business Park which is located less than 1 mile from Junction 13 of the M5 and it comprises 10 modern light industrial/warehouse units in 2 terraces totalling approximately 16,500 sq ft.

The property is currently let to Stroud District Council who in turn sub let to a number of local businesses. The head lease has in excess of 11 years unexpired.

ASH & Co identified the opportunity for their client, provided market and valuation advice, negotiated the sale and co-ordinated the deal through the legal formalities to conclusion.

The site was offered by Atisreal on behalf of their clients at an asking price of £1.275 million.

(September 2008)

Property News South West - March 2008

Early 2008 has seen a promising level of activity with a marked increase in the number of letting enquiries and freehold demand remaining, though there is a feeling that prospective purchasers are happy to hold out for a deal which is resulting in some tough negotiating.

I suppose the main question is whether or not the encouraging start can be sustained or if we are likely to experience the slow down widely anticipated. The uncertainty surrounding the economy is undeniable so it would be prudent to proceed with an air of caution to see what 2008 brings. I’m struggling to see the benefits of talking the market down further and will leave that to the so called ‘experts’.

Speculative development, both office and industrial continue to appear across Gloucestershire with new schemes and additional phases under construction along the M5 between Junctions 11 and 13. The imminent change to the void rates doesn’t seem to have had an effect on the current supply but don’t expect this to remain unchanged if the market does harden further.

The changes to capital gains tax (CGT) including the abolition of taper relief and indexation relief, and the introduction of a fixed 18% rate will commence from 6 April 2008. The one concession is that the first £1 million of gains realised by some entrepreneurs will continue to be taxed at 10% which should benefit the small businesses.

I suppose the most important question this month is whether Kauto Star can repeat his impressive Gold Cup success of last year! March is always eagerly waited by many in Gloucestershire when work makes way for Race Week with starting prices of more concern than the rates per sq ft!

ST MODWEN SIGNS DOWNTON AS MAJOR OCCUPIER AT GLOUCESTER SCHEME

A 102,000 sq ft distribution warehouse is to be developed by St Modwen on its succesful Quedgeley West Business Park, Gloucester, to store Dyson vacuum cleaners.

CM Downton, one of the largest privately-owned transport companies in the UK, has reached agreement with St Modwen to purchase the building which will amalgamate two of the firm’s existing warehouses in the region. The new warehouse will be built within half a mile of Downton’s head office in Moreton Valance which employs over 400 staff.

Planning consent has just been granted for the new unit which will be the second large-scale warehouse to be developed on the 32-acre park following the

Phase 1, 96,000 sq ft pre-let to Prestoplan completed in October 2006.

A further 120,000 sq ft of largely speculative distribution/industrial space is under construction within Phase 2, with 47,000 sq ft having already been pre-let and 60,000 sq ft due for completion in April. The park is only a quarter of a mile from Junction 12 M5.

Rob Skelston, senior development manager for St Modwen, said: “Quedgeley West continues to attract mid to large scale occupier interest given the site’s excellent prominence to the A38 and proximity to the M5. We are very pleased to be working with Downtons to provide this new distribution centre to support the ongoing and future expansion of their business. We have both worked hard with local residents and the local planning authority to minimise the impact of this development on adjoining residential properties.”

Andy Downton, managing director of Downtons said: “We are delighted to be building this flagship property at Quedgeley West Business Park. We looked at many sites but the parks close proximity to Junction 12 was the deciding factor. It represents a significant investment for the company but underpins our confidence in the future and our continued commitment to invest for the long term.”

Following completion of the warehouse in November, around eight acres remains in the final Phase 4 of the park, with design and build opportunities available from 10,000 sq ft to 150,000 sq ft. 27/2/2008

Property News South West – October 2007

What now for commercial property? Low interest rates have been one of the main drivers behind the expansion of the past few years. As rates fell, the rental income streams available looked very attractive so investors moved in.

How will the market now cope with interest rate rises during 2007 and the well publicised fears surrounding the residential market and the effect this may have? With the opportunity to earn 7% on your savings for the first time in six years, its unlikely investors will continue to pour money into commercial property. With the cost of borrowing threatening to force yields up, I believe the letting market will improve as occupiers take stock during this period of uncertainty.

One well known London Auction house has taken the following view…‘with the economy still in good shape, low void rates, inflation seemingly under control and stabilising interest rates, there is still a good case for long term property investment.’ Hopefully they aren’t the only ones.

Activity in the Gloucestershire market has remained buoyant throughout the summer with good quality second hand stock proving to be in demand. We have recently completed a number of transactions to include the sale of the part let Arjo site in Gloucester City Centre which provided circa 75,000 sq ft of office and warehouse accommodation. The vacant accommodation (approx 60,000 sq ft) was subsequently let to SLG Beauty. The former Gambro site at Olympus Business Park (40,000 sq ft) was purchased by a private investor and let to Toyota Handling. In addition, Severn Glocon have recently taken the assignment of the lease on a unit at Olympus Business Park, comprising 110,657 sq ft of space including warehouse and two-storey office accommodation.

Speculative office and industrial development continues across the region with schemes under construction/available in a number of areas. We are currently marketing Phase II at Quedgeley West Business Park where one unit has been let to City Link with a second currently under offer and promising demand in the remaining.

Demolition of the buildings for Gloucester Quays in now well underway as Peel and British Waterways begin to realise what was up until recently only a dream. This scheme is very important for the City and will enhance what has already been achieved by Crest. The new campus at Gloscat is now operational and the increased pedestrian traffic through the Docks will help to bring further retailers into the main Basin area; already trading are Smiles Stores and a local estate agent.

The above scheme represents just a small amount of the investment coming into Gloucestershire which will stand the County in good stead for the foreseeable future.

NEW WEB SITE LAUNCHED

ASH & Co are delighted to announce that they have recently launched their new website.

Robert Smith partner at ASH & Co confirmed that the site has been completey redesigned to be more user friendly and offers a a refreshing new image for the firm. It contains information about ASH & Co and provides a comprehensive database of all the properties they are marketing. (September 2007)

Get ‘smart’ and move to Churcham Business Park!

We are pleased to offer a modern office and light industrial unit at Churcham Business Park, the successful development prominently located on the A40 Trunk Road, approximately four miles from Gloucester.

The park is an industrial/office complex developed some 3 years ago by the Smart family who own the farming and agri-business "Smart Farms". They decided to diversify and turn part of their farm holding into a business park to provide businesses the opportunity to work in high quality space, within a pleasant rural setting. The site benefits from excellent road links to the surrounding area with the A40 linking to Gloucester's ring road and the A417, leading to the M5 at Junction 11 (7 miles distant). Cheltenham is only nine miles away, and Tewkesbury via the A38 is 13 miles and Junction 3 of the M50 is 10 miles.

The available property comprises two interlinked units, with access available by way of a personnel door and/or sectional vehicular door. Internally, one half of the accommodation provides an open plan office finished to a high specification with: carpeting throughout, gas fired central heating, suspended ceiling, kitchen and separate male, female and disabled toilet accommodation. Within the other half there is a workshop/storage area with insulated sectional up and over vehicular door and additional disabled w/c. There is also ample parking adjacent to the units and excellent views over open countryside. The whole park is extremely tidy, well presented and well managed.

Amongst other occupiers on the 29 unit site are SK Refrigeration & Air Conditioning, Mantinga UK Ltd, Wireless Innovations and Raging Bull.

The accommodation provides 900 sq ft of office with 900 sq ft storage and is available to let on flexible terms. (Business Supplement 02/10/07)

Beta Marine head for Waterwells in Million Pound deal

Beta Marine a Stroud based marine engine specialist are relocating to South Gloucester having recently bought a building at Quedgeley. The property was on the market at £1.45 million. The new property is 18,000 sq ft and comprises detached industrial unit situated on The Perry Centre on the well established Waterwells Business Park.

Beta Marine are due to move in August and employ 38 staff. Robert Smith from ASH & Co the Gloucester based commercial property consultants that handled the sale commented "Beta Marine have been looking for some time for the right building and this relocation will allow them to expand the business and improve their location links to the national motorway network." (21/7/2006)

ST MODWEN TO DEVELOP £10 MILLION
WAREHOUSING SCHEME IN GLOUCESTER

St Modwen Properties PLC has secured planning consent to develop a £10 million-plus speculative warehousing development at Quedgeley West Business Park, Gloucester.

This follows the success of the first phase of the park where Prestoplan, a subsidiary of Taylor Woodrow, will take occupation of a 94,000 sq ft building.

Construction of the 120,000 sq ft development, one of Gloucester's largest ever speculative warehousing schemes, will begin in January and will be completed in September. The development comprises six high quality units, ranging from 11,500 sq ft to 32,000 sq ft.

Rob Skelston, senior development manager, of St Modwen, said: "We have decided to construct the multi-unit second phase on a speculative basis because of the limited availability of good quality similar sized accommodation in the Gloucester and Stroud areas, and the apparent level of unsatisfied occupier demand.

"Prestoplan has proved the attractiveness of the location and the time is right to provide a range of units for medium-sized operations. It is one of the most prominent business parks along the Gloucester stretch of the M5 and will attract interest from local occupiers as well as national organisations seeking a regional presence.

"After this phase we will still have the ability to provide 300,000 sq ft of additional space on either a bespoke basis or through a further speculative phase."

Quedgeley West Business Park is a quarter of a mile from Junction 12, M5 at the southern edge of Gloucester. It is highly accessible for the local workforce and for access to the motorway and A38. (06/07)

Property News South West – May 2007

Driven by the GHRUC, the regeneration of Gloucester City Centre is now building a promising momentum with the completion of the South West By-pass imminent and Quays Development finally seeing activity.

Attention has been turned to other areas of the ‘Magnificent Seven’, in particular the Kings Square which is situated around the Bus Station. The recent commitment here by Morley Fund Management and Thornfield Properties should hopefully bring further confidence to the city centre which has often been considered inferior to its illustrious neighbour.

On the outskirts, the well publicised success of the business parks goes from strength to strength with further speculative office and industrial schemes planned at Js 11 and 12, ensuring owner occupiers and investors alike will continue to have ample opportunities to consider.

Unfortunately the supply of new land/stock is limited in other areas of the County, in particular Cheltenham with only one speculative industrial development available at Neptune Business Park. This scenario may soon be replicated in Tewkesbury due to the successful take up at Tewkesbury Business Park and the requirement for commercial land in both areas will no doubt be in much debate in the near future.

The Budget has brought changes on rates liability with the business rates relief on empty office and retail buildings reduced and more worrying for the speculative schemes, the introduction of charges on vacant industrial space. Only time will tell the effect these increased holding costs will have on the future speculative developments in Gloucestershire?

Developers will have to seriously consider whether to build speculatively and similarly investors may be detracted from buying property as these additional charges will significantly increase overheads should they become vacant. In addition occupiers, who vacate properties they no longer require, will be faced with bills for unwanted space.

In the meantime, 2007 has witnessed promising levels of commercial activity for both new build and the limited amount of second hand stock currently available and this will hopefully consider for the foreseeable future.

Major Manufacturing Site For Sale in Gloucester City Centre

ARJO, the Gloucester based company that specialises in providing patient handling & bathing equipment to hospitals and nursing homes is set to scale back operations at their site in St Catherine Street, adjacent to Gloucester Rugby Ground.

ASH & Co have been appointed to sell the site, which includes a manufacturing and office building of 73,000 sq ft and two further buildings, one used for storage, the other as a showroom. The total site area is approximately 3.7 Acres.

Pollyanne Schreuder, partner at ASH & Co, who is co-ordinating the sale, commented “The site is one of the largest manufacturing and office facilities in the City and offers good potential.

ARJO intend to retain their sales and support team in Gloucester, within part of the existing accommodation and so offer a secure rental income, which will certainly attract interest from investment companies. (12/5/2006)

Timescale Set for Gloucester Quays

Gloucester Quays, the major regeneration scheme that will transform a large area of Gloucester has received a recent boost as the Public Enquiry is now to be heard much earlier than expected. The Government have agreed to hold the Enquiry in the last week of November and it is hoped a decision will be made within three months thereafter. Public Enquiries can be notoriously slow and have caused considerable delays on other schemes such as The Cattle Market, which is now well underway.

In the recent weeks, the local MP, Parmjit Dhanda and the Chairman, Gregg Smith, of the Gloucester Heritage Urban Regeneration Company, have exerted pressure behind the scenes, asking the Government to “fast track” the enquiry, and it appears that their requests have paid off.

If the project does get the go-ahead, it will see a factory outlet, retail centre, a hotel, a supermarket and 1000 new homes. (23/8/05)

Gloucester Quays Sees Set Back

Peel Holdings and British Waterways have seen a set back to their Gloucester Quays redevelopment plan. Whilst the City Council have given unanimous support along with the local MP, the South West Region Development Agency and English Partnerships, The Deputy Prime Ministers Office has called in the application for determination.

The proposal is to transform derelict land close to the City Centre and canal network. The plans would see a factory outlet, a supermarket, hotel, bars and restaurants and 1,000 homes. It is anticipated that a decision is unlikely to be made for at least 12 months.

Peel Holdings commented that they were extremely disappointed with the news and that the set back comes at a critical time when the partners are working hard to secure the sustainable regeneration of this historic City. (15/6/05)

The Glenmore Centre, Waterwells Business Park

We are delighted to report the overwhelming success of The Glenmore Centre with around half of the units placed ‘under offer’ before a brick had been laid.

The Business Park, which is currently being developed by Glenmore Investments Ltd, will comprise 31 industrial/warehouse and business units ranging in size from 800 sq ft up to 5,500 sq ft, are offered freehold or leasehold.

The units, the first of which is due for completion in May 2005, will be of steel portal frame construction with profile metal cladding and part brick and block work walls. Each unit will be provided with a first floor storage area suitable for upgrading to office space and the majority will have additional glazing to help enhance the natural light throughout.

Simon McKeag, surveyor at ASH & Co stated, “The popular business location with good communication links and high quality of the proposed accommodation has helped attract a high level of interest in the development and, since the marketing commenced in October, half of the proposed units have been placed under offer. A number of companies acknowledged that the opportunity to purchase freehold units has been limited in recent times and moved quickly to ensure they didn’t miss out.”

06 December 2004

Gloucester Docks sees something different at Double Reynolds

Gloucester Docks is set to see the completion of a totally new concept for the City. Crest Nicholson, who have been refurbishing several of the redundant Victorian warehouses, are to provide three new live/work units in their refurbishment of Double Reynolds Warehouse. Work is well advanced and completion is set for the New Year. The units are designed to provide an apartment on the first floor, with a work area immediately below.

Robert Smith who is handling the sale of the properties, commented that, this is a unique opportunity for an individual who wants to work and live in the thriving area of Gloucester Docks. This is a totally new concept for the City, but perfectly compliments what is being achieved at the Docks, which is to bring vitality back into the City Centre. Prices start at £185,000.

The refurbishment of Double Reynolds is a joint project by the South West Regional Development Agency and Crest Nicholson. (24/9/04)

Duraflex Heads for Tewkesbury

Duraflex, the plastics extrusion company that manufactures the raw product for the fabrication of windows, doors, conservatories, etc. is now on site at Tewkesbury constructing their new headquarters facility.

The site, which is adjacent to the M5 Motorway and near to junction 9, offers a high profile location and, when completed, will comprise some 270,000 sq ft of manufacturing warehousing and offices. Duraflex occupy several sites in the county and the new premises allow them to consolidate under one roof.

St Modwen plc, the Birmingham based developer, co-ordinated the transaction and are developing the building for Duraflex. It will be completed in the third quarter of September 2004. (7/11/03)

BOOST FOR MANUFACTURING JOBS IN GLOUCESTER

ASH & Co, Commercial Surveyors, are delighted to report the sale of a purpose built industrial unit at Green Farm Business Park, Quedgeley, Gloucester to Turnbull & Asser Shirtmakers. Turnbull & Asser shirts are famous throughout the world for their quality. Their clients have included the Prince of Wales, Winston Churchill and the fictional spy, James Bond. They have been based in Gloucester for more than 30 years manufacturing from premises in Alfred Street.

However, they thought the time had come to relocate to a modern factory as their existing building was growing too old for their needs.

The property, at Green Farm Business Park has been built to their specific requirements by Barnwood Construction Ltd. Pollyanne Schreuder, Partner of ASH & Co advised the company on the transaction. “It was a pleasure to deal with a manufacturing company who are seeking to expand in the City. Industry has been in decline in recent years and additional jobs will be created securing employment for approximately 100 people in the area. The unit is some 10,000 sq ft and built to an extremely high specification. The unit forms part of a larger development with two units of some 4,250 sq ft currently available. There is strong interest in the remaining units and further sales are anticipated in the near future.”

Enquiries on availability should be made to ASH & Co on 01452 300433.(26/8/03)

West Hyde Stay in Nailsworth

West Hyde Enclosures Ltd, a Nailsworth based firm of computer cabinet manufacturers, have relocated to Nailsworth Mill Estate. They recently signed a new lease for premises extending to 21,700 sq ft. Until recently, West Hyde were owned by Tyco plc. The new owners see the merit in remaining in the area and taking advantage of the local labour force, this not only safeguards the existing business, but allows them to expand in the future.

Nailsworth Mill Estate is a well established commercial area extending to approximately 10 acres. Other occupiers include Fluid Transfer Systems, and Cavoflex. (23/8/04)

St Modwen Chosen as Redevelopment Partner

St Modwen Properties Plc is to carry out a £100 million redevelopment of a 92 acre site at Dursley, Gloucestershire.

The site was acquired by the South West Regional Development Agency in 2001 from the world famous engine manufacturer Lister Petter.

St Modwen will act as a joint venture partner and were appointed preferred bidder for the scheme in spring 2002. They are anticipating submitting a planning application for redevelopment this autumn.

The development will include the provision of 600 new homes and 250,000 sq ft of employment unit.

St Modwen are presently working on proposals to relocate three tenants on the site. (1/8/03)

Redevelopment of the Docks moves a step closer

Specialist Consultants have been working on the final details of a master plan for the redevelopment of Bakers Quay, Llanthony Wharf and Monk Meadow. They intend to deliver their proposals to the City planners in the next couple of weeks.

The development is being jointly promoted by British Waterways and Peel Properties and comprises approx. 60 acres of mainly derelict land.

At the heart of the scheme are plans for one of the country’s largest factory outlets in Britain which would be a massive draw for shoppers across the South West. A new £38 million College campus will be built next to Llanthony Priory expanding the City’s growing educational need. Also included in the scheme are plans for a Morrisons Supermarket, canalside housing, offices and workshops.

This scheme will require some £200 million of investment and when complete should create some 2,000 new jobs for the City. The development will be phased and it is anticipated that construction will commence in the summer of 2004 with the building of a lift up road bridge over the canal to extend St Ann Way. Simultaneously the Food Store and the College campus will be built.

John Whittaker chairman of Peel holdings said “Peel have a proven track record of major canalside regeneration projects and Gloucester represents not just another exciting opportunity but our flagship redevelopment scheme.” (8/5/03)

Latest Phase at Green Farm now complete

This month will see the completion of the latest phase of this highly successful Business Park. Developed by Brabon Properties owned by local businessmen, Steve & Ian Tandy, the Park has expanded rapidly over the past three years to provide high quality offices on the edge of Gloucester in a location set for major expansion.

Located at Quedgeley, just off the A38 by-pass, the Park is ideally situated to take advantage of local facilities as well as benefiting from considerable road improvements that have, or are occurring, in the locality. Junction 12 of the M5 has now been upgraded and the next phase of the South West by-pass will soon be under construction.

Brabon Properties saw the opportunity open up when they made the decision to relocate their offices to Green Farm in 2000 taking the gamble that Gloucester was set for growth and that it had a distinct lack of quality offices.

Initially, they developed 18,000 sq ft which was quickly let to Bruton Knowles and Millhouse Inns. A second phase was developed and Stephen Limbrick Architects and Office Depot International have so far taken occupation.

Phase 3 is larger, comprising some 17,700 sq ft arranged in four buildings. They are all self contained and fitted out to a very high standard to include full comfort cooling and raised access floors. (24/3/03)

Major Manufacturing and Office Complex sold

Quaker Chemical Limited have recently concluded a sale of their former manufacturing and office premises at Woodchester, south of Stroud. The site, extending to 3 acres, comprises approximately 20,000 sq ft of industrial and 7,500 sq ft of modern open plan office accommodation.

The site has been acquired by Ebley House Limited a locally based company specialising in investment and development. The new owners intend to let the accommodation either as a single entity or in parts. The site offers a number of opportunities for companies seeking either manufacturing/warehouse space or quality office accommodation. There are also plans to construct a range of new units on site.

Full details are available on our web site.(29/11/02)

Americans favour Stroudwater Business Park with two recent deals

Stroudwater Business Park, which is located within close proximity to Junction 13 of the M5 motorway, has seen two recent deals from American Companies.

Polaris Industries Limited has chosen the Park to locate its new UK Head office. It has taken a building, formerly occupied by Astra Tech Limited, who themselves relocated on the Business Park in October last year. The building comprises 8,600 sq ft of offices and warehousing. Amongst other things, Polaris manufacture and distribute All Terrain Vehicles and Jet Skis.

In a separate move, Schlumberger Limited has specifically commissioned 27,000 sq ft for a new manufacturing facility. It will be completed in February 2003 and is to accommodate a business that is being relocated from the U.S. Schlumberger are a major employer in the Stroud and Stonehouse area, having two other factories on the Business Park.

These companies join Automold, Greiner Laboratechnic, Unite plc and Maersk Medical on this highly successful Business Park.(16/8/2002)

Major Plans announced for Gloucester Docks

After several years of consultation with Gloucester City Council and the South West Regional Development Agency, British Waterways and Peel South East Limited have finally submitted an outline planning application for the redevelopment of an area of the Docks, to be known as Gloucester Quays, an area extending to some 60 acres. This stands as the largest, single regeneration scheme ever contemplated in the City and will include the construction of a canal bridge, the completion of the inner relief road, a new educational campus for Gloscat, a superstore and over 1,000 new homes, bars, restaurants and leisure facilities. The scheme also incorporates a 200,000 sq ft designer outlet centre.

Whilst development of this scheme is clearly a long term project, both the South West Regional Development Agency and British Waterways are currently showing serious commitment to the Docks area. The South West Regional Development Agency with their recent acquisition of the Crest Nicholson leasehold interest of the main Docks Basin, and British Waterways by the £1 million refurbishment of Alexandra Warehouse on the West Quay. British Waterways themselves will be relocating and occupying the ground and first floors of the newly refurbished building, with the remainder available for letting on the open market. The surplus accommodation is to be marketed by ASH & Co, who are also managing agents for the South West Regional Development Agency and British Waterways in the Docks area.

27/5/02

GOOD NEWS FOR FOREST FIRM

Positive news has recently been announced at the troubled Xerox plant in the Forest of Dean.

BMJ International, a locally based firm, has stepped in to provide a major cash injection. BMJ has been secretly negotiating with the firm for a number of weeks.

Brain Bennett, company chairman of BMJ, has vowed to turn the site into a Business Park and hopes to provide hundreds of local jobs.

Xerox announced in October last year that 1,000 jobs could go from the plant. (4/1/02)

Ikea eye up Gloucester

Ikea the famous Swedish retailer which has had considerable success in the UK is eyeing up Gloucester for a new store. Their nearest stores in Bristol and Cardiff are so busy that customers often leave before paying for their goods.

A new store in Gloucester would be strategic as it would help to alleviate the congestion.

Several sites are under consideration, however the company realises that it will take some time to obtain a suitable planning consent and has set itself a 5 year deadline.

Locally the proposals are welcomed and there is no doubt that it would give a major boost to the local economy. (12/2001)

Crest Nicholson the developers that have transformed Gloucester Docks over the past 15 years have announced the sale of their interest to the South West Regional Development Agency (SWRDA).

This sale believed to be in excess of £5 million allows SWRDA to hasten the regeneration of Gloucester Docks and the whole Western Waterfront Scheme from Westgate Bridge to the Peel Centre.

Crest Nicholson will also be future development partner to the Agency and are keen to commence refurbishment of Albert Warehouse.

ASH & Co who manage the Docks on behalf of Crest are pleased to confirm that they have been retained by the Development Agency and look forward to the new chapter that is about to begin at Gloucester Docks. (2/11/2001)

Construction work has now commenced to upgrade junction 12 of the M5 Motorway.

This ends years of campaigning by local residents who have suffered severe delays on short journeys.

An additional sliproad will be provided for traffic joining northbound and also for traffic exiting southbound.

The upgraded junction will boost the communication links in this part of Gloucester and help to further establish the aleady successful Business Parks such as Green Farm and Waterwells.

The construction will take some 15 months and the Highways Agency estimate that there will be 3,000 fewer cars travelling on the roads in Qudegeley and Hardwicke.(19/10/2001)

A major building project nears completion at Stroudwater Business Park, close to junction 13 of the M5 motorway.

Astra Tech Ltd part of the AstraZeneca Group are soon to move into 24,000 sq ft of purpose built warehouse and offices. The move represents rapid expansion for the company which is relocating from elsewhere on the Business Park. They leave behind 8,500 sq ft which was also built for them in 1992.

This new building kicks of the next phase of the development and opens up a further 8.5 acres of prime commercial development land (28/9/2001)

News

ASH & Co have been instructed to market 403 The Waterfront. It is a modern 1,820 sq. ft. office building, constructed in 2007, providing high-quality energy efficient office accommodation close to the M5. The ground floor extending to 900 sqft is currently available.

Robert Smith from ASH & Co handling the marketing commented. "It offers all the benefits to be expected from being part on an up-to-date business park, including great transport links, plus an attractive waterside location with views over open countryside. The office has allocated parking, a fully monitored security system with 24 hour response, and the Business Park has its own security patrols with CCTV."

See more information on the building at www.officeinstonehouse.co.uk

News Archive