Work is underway on 30,000 sq ft of new business, production and warehousing units in Warwick.
Completion is expected in December 2019 and over half of the units have already been sold – with planning permission secured from Warwick District Council earlier this year.
The units are available for purchase or rent and cater for a wide range of industries including hi-tech, engineering and storage. It could attract 80 new jobs to the region.
AC Lloyd, which is also based at Tachbrook Park, has owned the 132-acre site since the 1980s.
The development and investment company has previously worked with Deeley Construction on a similar successful project, a £9 million development at Kites Park in Princes Risborough.
Mark Edwards, Managing Director at AC Lloyd Commercial, said: “We are delighted to be working with a local company again in Deeley Construction to deliver this much-needed commercial development in Warwick.
“Work is starting on-site in difficult times but despite those wider economic circumstances, there is still a clear demand for units such as this in the region.
“Over half of the space had already been sold before we began construction and we have had significant interest in the remaining units.
“It is the next stage in the expansion of Tachbrook Park as more and more businesses are attracted to a hugely successful development.”
Martin Gallagher, Managing Director at Deeley Construction, added: “Our team has now set up on-site and work is underway on these important new units to address the need for more commercial space in the area.
“Creating business space such as this can only provide a boost to the local economy.
“We have had a great relationship with AC Lloyd for many years and we look forward to working closely with them again at Tachbrook Park throughout this development.”