Three new high specification light industrial units have now been fully let at Enterprise Way in Cheltenham.
This development is the second phase of construction at the centre, with the first phase built in 2008 proving very popular with tenants.
All three units have been let to a new tenant, Unique Sound Systems Ltd (USS), on a ten year lease. The units have been combined to create one single unit providing approximately 6,800 square feet.
Cllr Rowena Hay, cabinet member for finance, said: “This investment demonstrates the council’s belief in the strength of Cheltenham’s current and future economic prospects.
“USS are a great fit for the business park and we’re pleased to have been able to help another successful local company to stay in Cheltenham and expand their business.
“We’ve worked with local construction company EG Carter and Co Ltd for the build, keeping business local wherever possible.”
Oliver Workman, of THP Chartered Surveyors, acting on behalf of USS to acquire the unit, said: “The demand for industrial property has increased over recent times, with a significant lack of modern space available in Cheltenham. I was delighted to be able to secure the units on behalf of my client who specialise in offering the very latest events equipment, and I hope this will be a perfect base to allow for the continued growth of their business.”
The new units form part of the Cheltenham Borough Council’s estate portfolio and the rental income goes towards the provision of local services and supports local jobs.
This development uses land that was otherwise unused and demonstrates the commercialisation of the authority and maximising the value from its commercial assets.
The council owns an array of commercial property which is available to rent, a full list can be found on the council’s website.