Stoford and BlackRock begin phase three of Spa Park
Work has begun on the third phase of a multi-million pound business park in Leamington Spa, which will bring 180,000 sq ft of new industrial units to the town.
Leading property developer Stoford Developments is building four units and has already signed up Liberty 920E, part of the prestigious Liberty Vehicle Technologies, for a 50,000 sq ft unit at the park, which is located on Tachbrook Road.
A further three units of 30,000 sq ft, 40,000 sq ft, and 60,000 sq ft, all with ancillary offices and suitable for advanced manufacturing and e-fulfilment and distribution uses (B1, B2 and B8 classes), will also be constructed.
When it is fully operational, Liberty 920E’s state-of-the art, flagship 50,000 sq ft centre will become a global hub for its research and development and engineering expertise, housing house more than 100 technical professionals, including 40 new engineering posts. The company, which employs 5,000 people in the UK, is a Tier 1 supplier to major automotive manufacturers domestically and overseas.
The centre, adjacent to its original plant, will also house Liberty’s Vehicle Technologies, 920Engineering (920E) and Shiftec businesses, which are internationally renowned for their advanced lightweight braking and control systems respectively.
Contractor Benniman has been appointed to undertake the first tranche of phase three construction, which is due for completion in Q4 this year.
Dan Gallagher, Joint Managing Director at Stoford Developments, which is developing the site jointly with leading asset management company BlackRock, said: “Starting on phase three of Spa Park is a key milestone in this significant development that could bring hundreds of jobs to the area.
“We are pleased to have signed Liberty 920E for one of the larger units that we are delivering and we are also in talks with other prospective occupiers and hope to make further announcements soon. There is still huge demand for business units and warehouses of this size in the region, which has a long track record for advanced manufacturing and engineering industries.”
Stoford is retaining a large portion of the site that will enable it to construct units ranging from 30,000 sq ft – 290,000 sq ft on a build-to-suit basis.
Paul Tebbit at BlackRock said: “We are pleased to be on site in Leamington working in partnership with Stoford once more, following on from our recent project in Siskin Parkway West, Coventry, where we successfully built and let 310,000 sq ft in two buildings. Spa Park forms part of BlackRock’s strategy to build and own best in class, strategically located logistics assets within the BlackRock UK Property Fund, which now stands at nearly £3.5bn. Spa Park offers access to a strong skilled labour pool, good infrastructure and connections and importantly a significant power supply.”
Anthony Blackwell, chief technical officer for Liberty Engineering, who is leading the development of the global technology centre, said: “This industry-leading new facility at Spa Park will play a pivotal role in our development of sophisticated components for the next generation of vehicles.
“This site has nearly a century of heritage in automotive manufacturing and our new centre here will help us write an exciting new chapter in this success story.”