The formal completion of Building 500 at Abbey Park, Stoneleigh, has been announced by Pettifer Estates. The company says that a further stage of development at the park is ready for commencement.
Twenty of the region’s leading office agents were entertained to lunch and a tour of the newly completed Building 500 which also gave the opportunity to see the progress made already at the 118-acre park site, which is soon to expand again, thanks to its success in attracting a number of high quality tenants since redevelopment began in 2004.
Guests who attended were presented with a pair of classic American Timberland boots as Pettifer Estates’ Director David MacMullen observed: “It’s a very big site, so we thought agents would appreciate some decent footwear if they were going to walk around it.”
Surrounded by parkland, the newly-launched Building 500 provides 21,700 sq ft of grade A office space across two floors. Within a month of commencement, pre-lets were signed with American based Bioanalytical Systems and Trett Contract Services totalling nearly 11,000 sq ft. A further 4,300 sq ft was let prior to completion to IT systems house Aareon, which is moving from Coventry after 20 years in the same building.
Just over 6,600 sq ft of the building remains available to let, in a single self-contained suite.
Plans unveiled for the next stage of development include Building 700, offering a further 24,000 sq ft of grade A accommodation, along with an additional three storey building of 34,600 sq ft on plot 800, which already has detailed planning consent, with an opportunity for a further headquarters-style building of up to 75,000 sq ft as a final phase.
David MacMullen, Pettifer Estates’ director, said: “Abbey Park continues to be a huge success because businesses see that an office location combining exceptional design, low density and accessibility with attractive and peaceful grounds, is not just desirable but virtually unique.
Potential tenants visiting the site are invariably impressed by the building quality and surroundings and this explains why the building has let so quickly.
“Pettifer Estates has already invested £30 million in Abbey Park and our plans for further development demonstrate our confidence that it will continue to attract quality occupiers, even in today’s competitive marketplace. Only by providing this quality of product, can we retain important businesses like Trett, Aareon and BASi in the area.”
He added: “Demand is such that we are pushing forward with the plans to develop Buildings 700 and 800, which can be ready for occupation in under ten months.”
On completion, Abbey Park will deliver around 235,000 sq ft of high specification offices and over 1,000 car parking spaces in a low density, historic “listed” parkland setting.
Located in Stoneleigh Village, just off the Stoneleigh junction and only a few minutes drive from Coventry, Warwick and Leamington of the A46, Abbey Park is already home to international giant AGCO and accommodates companies in the automotive and construction fields, Council Departments and professional firms.