SUCCESS FOR PMW PROPERTY AT POPULAR NEW INDUSTRIAL ESTATE


October 18, 2011

Industrial/Warehouse News

A LANDMARK industrial estate in Derbyshire has come back to life in the wake of a £1.5 million investment by one of the county’s most respected property developers.

 

Bradley Park, at Codnorgate Industrial Estate, hit the headlines two years ago after aerospace engineering company Airfoil Technologies International decided to close their operations at the site in the wake of a downturn in the aviation industry.

 

But new businesses have brought vital new jobs to the site after it was transformed into flexible industrial space by PMW Property, the development and investment business run by former textile industry entrepreneur Mike Wrigley.

 

Joint agents FHP and BB&J have secured a series of lettings at Bradley Park which have brought in businesses specialising in activities ranging from high-tech engineering, direct mail and security to vehicle components and contracting.

 

Mike Wrigley, of PMW Property, said:-

 

“There were obvious concerns in the area after Airfoil Technologies decided to review their operations, but the redevelopment of Bradley Park shows that the end of one activity can open up new opportunities. We had no doubt that Bradley Park could still be a strong and growing business location, hence the decision to engage in a comprehensive refurbishment of the site. It is in an established industrial area where there is a regular flow of expanding small enterprises, and Codnorgate is within easy reach of good road networks.”

 

In the space of less than nine months, six new businesses have taken nearly 40,000 sq ft of space on the site. They include:-

 

¨       Direct Mailing, who specialise in third party contract mailing, have taken a lease on a 15,000 sq ft unit, enabling their expansion from Little Eaton.

¨       Technique Composites who specialise in composite material design and manufacturing services, have purchased 6,000 sq ft.

¨       SB Wrought Iron have taken a new lease of 3,000 sq ft, relocating from Ripley.

¨       Safer Systems, who provide vending machine security services, have purchased 5,000 sq ft to enable their relocation from Darley Dale. 

¨       Pit Stop have relocated their motorcycle and car component business from Alfreton taking a lease on 5,000 sq ft.

¨       B & M contractors have taken a lease of 2,000 sq ft.

 

Jonathan Sayer, of the Derby property consultancy FHP, said the deals illustrated the continuing strength in the market for small-to-medium sized industrial space.

 

He commented:-

 

“There may be concerns in the wider economy at the moment, but all the signs are that there is a bedrock of carefully-run small to medium-sized businesses which have an appetite for growth and expansion. Bradley Park is the perfect place for them, offering high quality space which is close to both the A38 and the A610. It is also heartening to see these businesses growing up in a location previously associated with job losses.”

 

His colleague Laura West, who has been handling a large number of small and mid-market industrial deals across Derbyshire and Nottinghamshire, added:-

 

“The funding issues which continue to hold back the property market have meant that virtually no new buildings are coming to the market, even though the demand is self-evident.

 

“The result is that good quality secondhand accommodation is being snapped up by businesses like those relocating or expanding at Bradley Park. It is an established location, businesses such as these like being in a location where there are other businesses with a similar outlook, and PMW has offered flexible, tailored terms which make it easier to secure deals.”

 

Chris Wright, of BB&J, commented:-

 

“Bradley Park provides such a diverse range of quality storage, warehouse and manufacturing accommodation that we are finding that once a prospective tenant visits Bradley Park they seldom have reason to look elsewhere.”

 

One tenant introduced by BB&J Commercial is Safer Systems (UK) Ltd, who say they have been delighted with the move. Managing Director Steven Bane said:-

“As a global provider of specialist vending security products, Safer Systems required a central location, offering excellent transport network access by road, rail and air. Bradley Park offered all of these, plus access to good local facilities and an experienced workforce.”

 

“As with many businesses in this current climate, Safer Systems is continuously seeking to improve its services to its global customer base, whilst also keeping its costs down to a minimum. This move to Bradley Park has enabled us to do just that: improved transportation links, coupled with affordable facilities will help maintain a healthy profit margin, without compromising on the quality of service our customers expect. ‘’

 

Mike Wrigley concluded:-

 

“I have little doubt that we will be announcing further lettings at Bradley Park in the near future. It’s great to see these businesses moving into the site and doing so well. It is a sign that away from all the global economic challenges there is an underlying appetite for growth in the local business community.”

 

There is now only 65,000 sq ft of space remaining at the site, split across seven units ranging in size from 1,000 sq ft to 27,000 sq ft. Laura West added:-

 

“I would urge any businesses currently considering expansion or relocation to get in touch quickly. Space is now at a premium, especially in high quality locations.”

 

For further details on the potential that is offered at Bradley Park please contact:-

 

Jonathan Sayer at FHP                     01332 343222

Laura West at FHP                             0115 9507577

Chris Wright at BB&J                        01332 387 609

Rob Jones at BB&J                           01332 292 825

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