BIRMINGHAM-based developer Stoford has completed the first freehold sale of a warehousing unit on a developing Worcestershire business park.
Matcon, which produces powder handling systems, has bought a 30,000 sq ft unit for its new assembly plant and headquarters at Vale Park West, in Evesham.
Matcon currently operates out of two sites in Moreton-in-Marsh and Blockley, in Gloucestershire, and will be converting 12,000 sq ft of the unit into office space for its 86 staff.
The remaining 18,000 sq ft will be used for warehousing and it does not yet have a firm moving date.
The unit has a self-contained yard and car park area and will give the firm an additional 25% of office and warehouse space compared with the other two sites which it plans to close.
The deal was completed by Birmingham-based developer Stoford and La Salle Investment Management.
Matcon managing director Charles Lee said: “Moving to Vale Park West is a very welcome milestone for us in our 30th anniversary year.
“The new premises and the surrounding environment will enable us to present a modern, professional world-class image to our global customers, in keeping with our overall business profile.
“Furthermore, the consolidation of our offices and assembly operations, coupled with a better road network and easier access to staff and support services, will enable us to work more effectively, bringing with it considerable efficiency gains.”
Vale Park West is a 40-acre site which sits alongside the existing Vale Park industrial estate on the outskirts of Evesham town centre and 10 miles from Junction 5 of the M5.
Four units have already been built there – one of which is 75,000 sq ft and pre-let to flooring specialist Karndean International – with a further two available. The quartet make up Phase 1 of the development.
Stoford director Dan Gallagher said: “We are delighted to have attracted such a prestigious worldwide name as Matcon to Vale Park West with a freehold sale.
“It shows that speculative sales of high-specification office and warehouse units in strategic locations have now joined pre-lets in leading the UK commercial property market out of recession.”
Agents for Vale Park West are the Birmingham office of BNP Paribas Real Estate and the Gloucester office of Alder King.
Sign up for our weekly property news email: just click here
Click here to sign up to receive our new South West business news...
