THREE UNITS SNAPPED UP AT LOCAL BUSINESS PARK OVER 80% OF SPACE NOW TAKEN

St. Modwen, the UK’s leading regeneration specialist, has finalised three transactions, equating to 33,000 sq ft, at its completed 95,000 sq ft industrial development at Henley Business Park, Normandy, near Guildford. The developer has signed agreements with world-wide oil exploration specialists, StoreCore, and property development company, Landlink.

Two separate units of 12,000 sq ft each have been let to StoreCore, part of the Reservoir Group, an international network of companies providing the global oil and gas industry with exclusive drilling, completion and production technologies. One unit will be for its own use while the second will be for one of its subsidiaries, soil and rock analyst company, Petrophysics.
In addition, St. Modwen has also sold a 9,000 sq ft unit, let to Future Environmental Services for 10 years, to property investor Landlink.

Henley Business Park, based at Pirbright Road, Normandy, forms part of the 183-acre former Henley Industrial Estate, acquired from Volkes Group in 2002. While developing the new business units on vacant land within the Volkes' site, St. Modwen has also been operating the former tank factory buildings as a highly successful industrial estate.

David Bowen, partner at Vail Williams, joint letting agents for St Modwen, said: “These deals are great news for St. Modwen and the nearby local business community in Guildford. Following the lettings to StoreCore, Henley Business Park is now over 80 per cent let and we are confident of securing occupiers for the two remaining units.”

Chris McCarthy, Director of StoreCore, said: “Henley Business Park is a great place to do business. It is well-located with high-grade infrastructure and office space, and we have found St Modwen to be a professional company which is considerate to our business needs.”

John Mursell, director at Colliers CRE, who handled the sale of St. Modwen’s unit at the Business Park to property investor Landlink, said: “These agreements show that even though times are tough, deals are being done and this is positive news for Guildford and its businesses.”

Rents rise from £8.50 per sq ft to £9 per sq ft over the first five years of the term.

Notes to Editors:
Henley Business Park
Henley Business Park is a 25-acre employment site, with 217,000 sq ft of existing managed office and industrial space. Acquired by St. Modwen in 2002, the first and second phase of speculative industrial/warehouse units are now complete offering 12 high quality units from 3,391 - 25,134 sq ft.
Current occupiers include Bishops Move, Unico, Tana Water, Aria (UK) Ltd and Docusave. The scheme is 80% let.
St. Modwen Properties PLC
St. Modwen is the UK’s leading regeneration specialist, operating across the full spectrum of the property industry through a network of six regional offices and a Birmingham-based head office. The company is wholly focussed upon regeneration with expertise in brownfield land renewal, town centre regeneration, partnering with industry, Innovation Centres and education projects.