Approval given for Victoria PLC unit at Worcester Six Business Park
Worcestershire-based Victoria PLC, the UK’s largest flooring manufacturer and distributor, has been granted permission for a bespoke 180,121 sq ft unit at Worcester Six Business Park.
The planning committee of Wychavon District Council approved plans, submitted by leading developer Stoford, for unit 7, where Victoria PLC will house Alliance Flooring Distribution, one of its businesses.
Both Stoford and Victoria PLC have committed to a more environmentally friendly approach to the development, with the base build of the unit being net carbon zero in operation. It will also have photovoltaic panels on the roof and there will be extensive electric vehicle charging points.
Stoford will also create two new ponds to further improve the green infrastructure on the business park.
Edward Peel, Development Manager at Stoford, said it had secured £28.3 million forward funding for the scheme from Frasers Logistics and Commercial Trust (FLCT), a Singapore-based REIT (real estate investment trust).
Frasers’ acquisition through a forward funding agreement for the facility builds on its strategy to grow its core logistics and industrial portfolio in existing markets.
Stoford aims to start building work in the new year, with an expected completion date of Q4 2022.
“We’re pleased to have been given the go-ahead for another major business to join the raft of global names that have already made their home at Worcester Six,” said Edward.
“This is a thriving business park that is playing a significant role in helping to boost the local economy, thanks to the jobs the businesses are creating, and Victoria PLC will be no exception as it forges ahead with its growth plans.
“We’re looking forward to getting started on delivering the scheme for this historic, local company.”
Victoria PLC, a major employer in Kidderminster since 1900, has agreed a 15-year lease for bespoke unit.
Philippe Hamers, CEO for Victoria PLC, said: “It’s great news that planning approval has been granted. It means we are one step closer to enjoying an exciting new chapter that will enable us to both future-proof and grow our distribution business. We’re looking forward working with Stoford as our bespoke, environmentally friendly unit is built at Worcester Six.” In the past three years, Worcester Six has welcomed a number of national and global names to the business park, including Zwick Roell, Marmon Food and Beverage Equipment, Siemens, Spire Healthcare, Kimal, Kohler Mira and IONOS.
Victoria PLC was advised by Brasier Freeth and Stoford by BNP Paribas and Harris Lamb.
This was posted in Bdaily's Members' News section by Kate Cooke .