Commercial property agents Bromwich Hardy has concluded a deal to let a 28,000 sq ft unit on a Coventry business park – leaving just one property available on the site.
Bromwich Hardy founding partner Tom Bromwich said the deal – for unit one on the purpose-built Blue Ribbon Park in Foleshill – underlined the strength of the market for premium quality commercial property, despite the pandemic.
The Pack Smart Group, which already leases unit five on the same site, has signed a ten-year contract for unit one as the next key stage of its planned business expansion.
Tom said: “Blue Ribbon Park is a speculatively-built development of five units in an excellent location and built to the highest standards. It has attracted a huge range of interest and we have already secured occupiers for four of the units.
“It shows again that well-built, modern accommodation is still highly sought after despite the difficulties of the past 12 months and we expect there to be strong interest in the one remaining unit, which covers some 10,000 sq ft.”
Pack Smart, which has its headquarters in Kenilworth and specialises in e-commerce fulfilment, said the new site would become operational during quarter three this year.
Nick Walker, from Pack Smart, said: “The advantages of location, energy efficiency and space that unit five has afforded the business is further strengthened through the acquisition of a second unit at Blue Ribbon Park.
“The group is building towards the future of online retail and this major investment represents the next step along a tremendously exciting journey.”
Bromwich Hardy is joint agent for Blue Ribbon Park with Gerald Eve, which also manages the site on behalf of owners the Harmsworth Pooled Property Unit Trust.
Elizabeth Mellalieu, of Gerald Eve, said: “Blue Ribbon Park is also home to composite material and ballistic armour specialist Advanced Composites UK and interior décor firm Pretty Little Home.
“We are delighted that Pack Smart have taken additional space on Blue Ribbon Park and the focus is now to secure a tenant for the last remaining unit.”