A detailed planning application for four buildings on one of the area’s largest business parks has been submitted to Wiltshire Council amid signs that the local commercial property market is recovering from its pre-EU referendum slowdown.
The units on Hawke Ridge Business Park on the A350 corridor between Trowbridge and Westbury will bring 67,500 sq ft of prime space to the market in sizes from 7,500 asq ft to 36,000 sq ft.
With ground works on the site now complete, the units will be the first of a proposed 500,000 sq ft of multi-use space, including office, industrial and distribution buildings on the £50m, 35-acre park. When finished it will have the capacity to support more than 1,000 jobs.
Hawke Ridge’s Bath-based developer HPH believes the units will help relieve the pressure on the area’s industrial market which has built up over the last two years.
It points to the recent mid-year report from property consultants Alder King which shows the amount of industrial stock available in the South West is at a 12-year low of 4.2m sq ft while take-up was up 31% from the end of 2015 to its highest half-year figure for five years.
Alder King is marketing Hawke Ridge along with the Bath office of Carter Jonas, whose associate partner Alison Williams believes demand is likely to increase.
“Although the recent Brexit vote has caused some uncertainty in the market place the Wiltshire industrial market is renowned for its resilience,” she said.
“Following a significant decline of applicants immediately after the Brexit result, we are now experiencing an upturn despite the forthcoming holiday period. The majority of these are from well-established companies wishing to expand and which have been planning a move following growth during 2014 and 2015.
“The general sentiment being that Brexit will take time to resolve as such, many businesses are continuing with their plans.”
HPH development director Chris Wordsworth added: “It is exciting to see Hawke Ridge take shape after years of planning. We are fully committed to the scheme, which we believe is pivotal in encouraging existing and future business growth in Wiltshire.
“We are already in talks with several businesses which are considering Hawke Ridge for their new home.”
HPH has already invested more than £2m in the scheme. Ground works completed so far include a new roundabout, access roads, connection to mains services, landscaping, bus shelters, and new signs.
Mr Wordsworth added “Hawke Ridge Business Park will be Wiltshire’s premier employment hub providing modern, efficient, fit-for-purpose commercial facilities with the potential to support more than 1,000 jobs.
“With the road infrastructure now fully installed, development of the site is immediately deliverable and this planning application will enable us to respond at short notice to a variety of occupier requirements.”
The development has a particularly high level of connectivity and occupiers will have a choice of high-speed broadband providers via a range of fibre networks which enable download speeds between 70 and 300mbs. A dedicated fibre connection would enable up to 10gbs to be provided.
