St Modwen has agreed a deal for Advanced Insulation to take 67,000 sq ft at its Gateway 12 business park in Gloucester.
The manufacturing company creates insulation, fire protection and buoyancy products for the energy industry. It has signed a 10-year lease that will see it expand from its existing sites in Hardwicke and Plymouth.
It joins local and national occupiers including Amazon, ProCook, Samworth Bros, WMB Logistics and Warwick Fabrics.
The new tenant brings the 285,000 sq ft prime industrial and logistics scheme to full occupation.
Andrew Bennion, managing director at Advanced Insulation, said: “This is a significant financial investment for us but one that will enable us to increase capacity to meet market demand and will enhance our ability and reduce the time to develop and test new buoyancy products to meet the changing needs of the subsea market.”
St Modwen has also secured planning consent for 180,000 sq ft at the second phase of the neighbouring St Modwen Park Gloucester. It will see four speculative units of 36,000 sq ft to 56,000 sq ft due for completion in summer 2021.
Ash & Co and Alder King are joint leasing agents at Gateway 12.
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