Ground has now also been broken on the development with the construction of five units totalling 330,000 sq ft to be developed speculatively.
St Francis Group has announced that it has secured the first occupier at its prime 20-acre Velocity 42 business park development in Redditch by signing an agreement with Heartbeat UK to design and build a 45,462 sq ft integrated manufacturing facility.
Heartbeat UK, a design and manufacturing company specialising in retail display innovation since 1946 are acquiring the state of the art, purpose built, warehouse facility to support their continued growth and expansion throughout the UK and Worldwide.
Buckingham Group, having been appointed as the main contractors on the scheme with construction of all five units totalling 330,000 sq ft, are due to start on site later this month and complete in May 2019.
Speaking about the news Gareth Williams, Development Director at St Francis Group said:
“The deal with Heartbeat UK so quickly after deciding to build these new units supports our notion of pent up occupier demand in the area. This agreement and other discussions we are having with local occupiers suggests other similar agreements won’t be too far behind this one. With construction now underway we look forward to welcoming Heartbeat UK onto the park early next year.
“We are fielding a healthy number of enquiries from a variety of different companies and with units from 55,000 sq ft to 92,000 sq ft on offer at Velocity 42, we are well placed to offer good quality space on competitive and flexible terms”.
Also commenting Heartbeat UK Group Managing Director James Pritchard Said:
“We are very pleased to have exchanged agreements with St Francis Group and now we’re looking forward to taking occupation early next year. To see machines on site is an exciting stage of the process and we look forward to working alongside other growing businesses on the development which is great news for Redditch“.
elocity 42 is a 20-acre site at Park Farm Industrial Estate, Redditch. The site is being developed speculatively by St Francis Group in a joint venture agreement with the Richardson family and will provide industrial warehouse units from 45,462 sq ft to 92,525 sq ft.
Located in a key distribution area in the heart of an excellent logistics network that allows for easy access to locations across the UK, Velocity 42 is the perfect opportunity for any organisation looking to expand or consolidate its operations.