10 newly constructed industrial units at Vale Business Park, have been completed and some even allocated to businesses.
Chase Commercial recently completed the speculative £3 million development providing accommodation targeted at SME’s in and around the region. The units which vary in size from 2,000 sq.ft to 5,000 sq.ft. have been purchased at practical completion by private investor, Grafton Associates.
The expansion to the Vale Business Park site was part funded by the Worcestershire Local Enterprise Partnership through the Government’s Getting Building Fund programme. A total of £600,000 has been invested into the site through the programme. The Worcestershire Local Enterprise Partnership worked closely with partners Wychavon District Council to help support this latest stage of development.
Wychavon District Council have completed the construction of the units and have now handed over the new units to Chase Commercial to secure tenants.
Chase Commercial will now work alongside Grafton in securing tenants for the scheme which has already been well received by the market. Prior to completion 3 of the 10 units have been pre-let to local business, British Made Shutters as part of their on-going expansion. 2 further units are under offer leaving 5 units available.
Gary Woodman, Chief Executive of Worcestershire Local Enterprise Partnership, said: ” I am delighted to see that the new units at Vale Business Park have been completed. We know that high quality commercial space has been a challenge in the county and through the Getting Building Fund investment we have been able to support the development of new units to address this local need.
It is also fantastic to hear that numerous businesses have already made the business park their new home. I look forward to seeing more great success through the site as we go forward.”
Julian Meredith, Director of Chase Commercial Ltd, said: “The sale to Grafton shows the strong confidence that exists in the both the SME market and Evesham as a growing location. This is the first phase of the development planned at Vale Park which is the dominant location within the Vale of Evesham.”
Charles Lochrane, Director of Grafton Associates, commented: “Grafton’s strategy is to invest in the resilience and growth of the SME sector by developing attractive and efficient buildings for these companies to occupy. The strong demand prior to practical completion, despite the turmoils of both the Pandemic and Brexit, bears out our confidence in this sector. We are delighted to be partnering with Chase on this important development and investing in the growing economy of Evesham.”
Pictured: Opening of the new Vale Business Park units with partners from Wychavon District Council, Worcestershire Local Enterprise Partnership, Chase Commercial, Grafton Associates and British Made Shutters.