First lettings secured as industrial site nears completion

Avison Young and KWB have pre-let two warehouse/trade units at Holbrook Park in north Coventry to Wurth UK Ltd and another confidential occupier.

Wurth UK Ltd has agreed to a new long-term lease for trade counter space totalling 2,150 sq. ft. at the entrance to the estate and fronting Holbrook Lane.

The market leading traders in assembly and fastening materials will occupy Unit 1 and hope to open early Q1/Q2 2023. Unit 15, totalling 8,568 sq. ft. has also been let on a long-term lease.

The two lettings come as the first phase of the scheme by a joint venture between Chancerygate and specialist investor Bridges Fund Management has reached practical completion and site preparation works commence for Phase Two.

Phase One comprises 17 commercial units ranging in size between 2,150 sq. ft. and 22,276 sq. ft. Phase Two will provide a further 150,000 sq. ft. across 14 units with practical completion expected in Q4 2023.

Chris Hobday, associate director at Avison Young, said: “We 're pleased to see the first transactions get over the line and particularly given the calibre of the companies secured here.

“We have no doubt the scheme will continue to attract interest from a range of occupiers who are keen to occupy high specification trade and warehousing accommodation in an area that currently has such a shortage of supply. ”

Kenny Allan, director at KWB, added: “It is exciting to see the transformation of such an important site in the Coventry area. New units of this size range are such a scarce commodity I am sure that the scheme will be huge a success! ”