Speculative development underway in Coventry

CONSTRUCTION of a speculative development of industrial space in Coventry has begun, which aims to tackle a shortage of commercial property in the city.

Work on three industrial units totalling nearly 16,000 sq ft is underway at Henley Road Industrial Estate, owned by Coventry-based commercial property company The Wigley Group. 

Two of the units are 3,600 sq ft, which could be combined to create one 7,200 sq ft space, and the third unit is 8,700 sq ft.

James Davies, director at The Wigley Group, said: “We have heard for some time that Coventry lacks sufficient space for businesses who want to relocate or expand but companies in our sector need the right signals to take risks like this.

“In our experience, businesses that decide their current premises no longer meet their needs want to move quickly and aren’t prepared to wait for the right space to be built or become available.”

Tom Bromwich, from lead agent Bromwich Hardy, added: “This is already an active multi-tenanted industrial estate which has been consistently popular and we’re certain there will be strong interest in this new development.”