Coventry industrial park already attracting interest despite build not completed

Coventry-based property agent Bromwich Hardy has already been instructed by a company to reserve a unit at the Albion Enterprise Park in the city - even though construction of the industrial park only began in May.

The park, which has easy access to the M6 and M69, will provide 20 units for sale to help meet growing demand and is set to benefit local small and medium-sized businesses (SMEs).

It is expected to take around 12 months to complete with first units available for occupation by next summer.

Bromwich Hardy surveyor Mark Booth said: "The region has been calling out for more high quality industrial developments like this for a number of years now, so it is a pleasure to be involved in matching these units up with occupiers and investors.

“With a developer like Tetra Real Estate, their reputation precedes them, which is why our first buyer had the confidence to purchase a unit before steels were even up.”

Bromwich Hardy is marketing the 1.88 acre brownfield site in Endemere Road and has been instructed by smart phone recommerce-focused Inspire Technology Ltd to reserve a unit.

Albion Enterprise Park is being constructed by Tyto Contracting and project managed by Tetra Real Estate - both portfolio companies of Wigley Investment Holdings.

Chris Parsons, managing director of Tetra Real Estate, said: "This sale represents a significant milestone in the project and demonstrates just how great the need is for commercial space in and around the city.

"We fully expect to have a healthy number of businesses waiting to move in when building work finishes next summer.

"Partly because this well-connected location will service what is a clear demand for commercial space, but also because we’re confident of delivering units of a high standard and specification that upwardly mobile businesses will naturally want to capitalise on."

The development is one of two new industrial parks in the region, which Tetra Real Estate is overseeing thanks to a loan from Warwickshire County Council’s enterprising Property Infrastructure Fund (PIF), managed by global real estate advisor CBRE.

PIF is the property strand of the Warwickshire Investment Fund (WIF) which supports the provision of sites and premises which are designed to drive growth of the local economy.