Developer completes and sells second phase of business park
Network Space Developments (NSD) has completed and sold phase two of the Tunstall Arrow Business Park in Stoke-on-Trent.
The second phase of the scheme provides an additional 111,400 sq ft of industrial and logistics workspace on a seven acre plot. Phase two comprises five high-specification, highly sustainable, energy efficient business premises for industrial or logistics uses, ranging from 13,500 sq ft to 31,200 sq ft.
This second phase has been sold to 4th Industrial, the multi-let and light industrial investor, which also acquired the 127,100 sq ft first phase in 2021.
Together, both phases comprise 238,500 sq ft across 10 units. The development is supported by Stoke-on-Trent City Council’s Ceramic Valley Enterprise Zone (CVEZ) initiative, and is making a significant positive impact on the locality – regenerating a former brownfield site, attracting inward investment and providing space for around 400 jobs.
The scheme has attracted a host of international tenants including DHL Express, Boels Rental, Q-railing, Pramac Generac and SG Fleet.
The first phase was fully let within three months of completion and the second has already secured its first letting to Speedy Services, the tools and equipment hire services company.
Stephen Barnes, managing director at NSD, said: “We are very proud of the Tunstall Arrow development, now a well-established industrial and logistics location in the heart of the Ceramic Valley. We’ve successfully attracted new occupiers to the area, creating jobs and supply side opportunities with more to come as the final units are occupied. Stoke-on-Trent City Council had the foresight to support this scheme from the outset and is now enjoying the benefits of that ambition.
“It has been a pleasure to complete another transaction with 4th Industrial, who we have a strong investor/developer relationship with, and we look forward to working with them again in the future.”
Sarah Lindsay, head of asset management, 4th Industrial, said; “Having purchased phase one in 2021 we were pleased to secure phase two, which increases our investment in this prime location. Tunstall Arrow is a quality industrial property, with strong ESG credentials, built to a high specification and excellent quality by Network Space and their contractor Caddick Construction. The pre let to Speedy Services shows the continued strength of demand for prime light industrial space across the UK, and with the interest already shown in the remaining units we hope to announce further lettings shortly.”
David Nunn, head of rstate Management for Speedy Services, added: “Unit 5 has everything we have been looking for in a significant North West site that will help us serve clients across the Stoke-on-Trent region. Becoming a carbon net zero business is core to our strategy, and the site’s excellent location and high-quality build that came with an EPC A rating will also help Speedy to recruit and retain the best staff for our new centre.”
Letting agents for Tunstall Arrow North are Richard Mounsey at Mounsey Chartered Surveyors and Antony Mellor at B8RE. Selling agent was Simon Wood, also of B8RE.
