Distribution park undergoes third phase of expansion
A Midlands distribution hub already home to Jaguar Land Rover and Aston Martin is undergoing further expansion.
Wellesbourne Distribution Park was acquired by Griffen UK in February 2015 and under its ownership has almost doubled in size.
Two years ago, the park, situated next to Wellesbourne Airfield, between Gaydon and Stratford-upon-Avon, comprised 585,000 sq ft of occupied accommodation across 10 units. Griffen UK has since added 450,000 sq ft.
The third phase of expansion sees the development of two new units – 51,500 sq ft and 66,500 sq ft. Currently under construction, the units are expected to reach practical completion in the final quarter of this year.
To capitalise on the strong market for units of such a size, Griffen has appointed Lambert Smith Hampton (LSH) and Dowley Turner Real Estate (DTRE) to market the properties.
Due to the presence of the two motor manufacturers and the park’s location at the heart of the region’s automotive industry, then large component suppliers could be potential targets.
Jamie Catherall, at DTRE, said: “Since acquiring this site, Griffen UK has nearly doubled its size and attracted some very reputable occupiers.
“It has become a very sought-after location, and its reputation is only growing. It boasts excellent transport links too, and is strategically located at the centre of the UK distribution network.”
Matthew Tilt, at LSH, added: “The units will be of the highest quality once construction is completed, and we are expecting high levels of interest in them. Availability of good modern units in this size range continues to fall whilst the region continues to see robust occupier demand.”
Due to the 59-acre site’s central location, all major UK airports and Southampton port are potentially within a two-hour drive. Other major occupiers include DAF Trucks and the Amethyst Group.