Birmingham-based Stoford Developments has pre-let the largest of four units in the first phase of its Vale Park West project in Evesham. Developed with LaSalle Investment Management, it has office, industrial and warehouse premises.
The unnamed occupier will be moving into the 75,000 sq ft unit at the 40-acre extension to Vale Park in the booming M5 corridor this summer after signing a ten-year lease with an option to break after five years.
Stoford said the 40ft high distribution unit has five docks, two level entry loading doors and a self-contained 431 sq ft yard with separate parking. It fronts the Evesham by-pass, with access to Junction 9 of the M5 to the South, the M40 to the North-east, and Junction 3 of the M42 to the North via the A435.
Stoford director Jason Adderley said: "This pre-let shows even in the current financial climate there is still strong demand for high quality units with the right specification, amenities and location."
Stoford is reporting strong interest in the three other units of 18,000, 24,500 and 30,000 sq ft in the first speculative phase of Vale Park West scheduled for completion by August.
The new scheme will eventually offer up to 850,000 sq ft of office, industrial and warehouse space.
Adrian Rowley of joint agent Alder King added: "Although it is frustrating to have to keep the identity of our first occupier under wraps, we hope to be making further announcements shortly."
Together with other nearby schemes at Stonebridge Cross in Droitwich and Ravensbank in Redditch, Stoford acquired 40-acre Vale Park West in association with LaSalle Investment Management from Cirrus Properties and Barberry Developments as one of its largest land transactions in recent years. Agents for Vale Park West are the Gloucester office of Alder King and the Birmingham office of Atisreal.
