Fast lettings for new units boosts Thorp Arch Estate’s confidence in speculative scheme

Two units have been let – and a third is imminent – following the extensive refurbishment of two former wartime munitions factory buildings at Thorp Arch Estate this summer.

The lettings have been made to Aerotech Abrasives Group Ltd and Stuart Hirst Ltd at Units 710 and 715 where refurbishment has created six new individual industrial units ranging from 1,159 sq ft to 2,539 sq ft.



The extensive refurbishment included the fitting of new insulated roofs with skylights, cladding the original brick walls with insulated sheets and fitting new roller shutter doors and steel personnel doors.

Internally new offices have been constructed with beverage facilities and WC’s, and LED lighting has been fitted throughout. The units have new tarmacadam parking and loading and can access the Estate’s discounted super-fast broadband.

 

Director of Wharfedale Property Management, which manages Thorp Arch Estate for owner, Rockspring Hanover Property Unit Trust, Tim Munns, says:

We are encouraged by the speed of the lettings at these two units. This follows the successful refurbishment of Units 713 and 726 in 2014 where five of the units were let upon completion of the refurbishment works and all nine units were let within six months.

 

As a result, Rockspring Hanover Property Unit Trust has decided to proceed with speculative new development at Thorp Arch Estate for the first time since 2005 and is starting work on creating seven industrial units of between 3,000 sq ft and 4,000 sq ft each, which are due to complete in July 2016.

In the 12 months up to 30 September, 26 companies located onto the Thorp Arch Estate, at the same time as a number of existing tenants expanded and moved into larger premises.  This shows the continued popularity of the estate with a growing numbers of companies choosing to base their businesses on the estate.

 

The two-million sq ft Thorp Arch Estate is base for a diverse range of more than 140 businesses, from start-ups to large Plcs, operating in local, national and international markets and employing more than 1,800 people. Thorp Arch Retail Park, which forms part of the estate, was the first out-of-town shopping centre in the country when it opened in 1959 and is complemented by a variety of leisure facilities.


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