Swan Hill Developments and Evesham Estates have secured the first deals on their 29.2ha (70 acre) Vale Park development in Evesham, Worcestershire. Three purchasers have bought a total of 4.05ha (10 acres) on the greenfield business park which is located to the south-east of Evesham and opposite the Four Pools Retail Park.
Vale Park has outline planning for B1, B2 and B8 with 7 ha (17 acres) reserved for local fruit and vegetable operators. The remaining 21.5ha (53 acres) has potential for 69,675 sq ft (750,000 sq ft) of offices and light industrial.
Evesham Micros is investing £3.5m in a 3,716 sq m (40,000 sq ft) purpose-built headquarters on four acres. Local company Samsara plans to develop 1,115 sq m (12,000 sq ft). Worcester-based Laser Civil Engineering has also bought two acres as an investment.
According to King Sturge partner Ian Mellor the purchasers paid £180,000 per acre while another two deals totalling five acres, currently in solicitors hands, are expected to achieve more than that.
Evesham Estates director Tim Carey said: “Infrastructure works to service 35 acres have recently been completed and construction of the buildings is expected to commence straight away, so we are delighted to have negotiated three significant sales at such an early stage in the development of Vale Park.”
King Sturge partner Ian Mellor said: “There is tremendous interest in the scheme, the development of which will have a considerable impact upon the continued economic growth of the Evesham area and we anticipate that a further important investment will be announced within a few months.”
King Sturge and Timothy Lea Commercial are joint agents on the scheme.
EGi News 23/05/97
