£11m speculative industrial development fully let
Network Space’s Tunstall Arrow, an £11m speculative industrial development in Stoke-on-Trent, is now fully let.
The 130,000 sq ft first phase of the scheme in Tunstall officially launched in September with five detached industrial units ranging from 10,208 sq ft to 43,500 sq ft in size.
Built by Caddick Construction, each unit comes with its own self-contained yard as well as office space.
At the Tunstall Arrow launch, three pre-lets were announced including international balustrade manufacturer Q-Railing and Netherlands-based Boels Rental, the largest provider of hire equipment and tools in Europe.
Pramac-Generac UK, which manages and distributes its world leading brands, Pramac Power Generation and Generac Mobile Products to the hire, rail, construction and infrastructure sectors, also announced that it was moving to the site.
The two most recent signings include German logistics company DHL Express.
The international courier, parcel, and express mail services provider has taken 35,315 sq ft and is set to move to Tunstall Arrow in March 2019.
Meanwhile, Australian fleet management and leasing company, SG Fleet Group has taken the fifth and final unit from this first phase of development and will occupy 20,452 sq ft.
Tunstall Arrow was developed in partnership with Stoke-on-Trent City Council, with grant funding coming from the Ceramic Valley Enterprise Zone Development Fund. The Ceramic Valley is one of 48 enterprise zones across the UK and has the potential to create up to 6,700 jobs.
Simon Peters, development director at Network Space, said: “As a speculative development, we were delighted to let three out of the five units prior to completion. To now have the scheme fully let so soon after completion is testament to the quality of the units and location and of our ability to work positively with occupiers. The scheme will now be managed by our sister business Network Space Management who will ensure that the quality of our investment is maintained.
“We are now planning phase two of Tunstall Arrow where we intend to deliver a similar scheme of 10,000 to 30,000 sq ft industrial units.”
Peter Davenport, managing director of SG Fleet, said: “Following the acquisition of Motiva Group in Stoke-on-Trent, we are proud to be continuing our investment in the city and are excited to be relocating to a prestigious and geographically well-placed facility as Tunstall Arrow.”
Richard Mounsey of Mounsey Surveyors marketed the scheme.
Work is due to start on the next phase of Tunstall Arrow later this year.
