Plans to create two new state-of-the-art office buildings have been submitted underlining developer Sackville Properties’ strong faith in the Warwick Tournament Fields business park development.
The developer, which owns the business park site just off junction 15 of the M40, has applied for planning consent to build the two-storey office buildings totalling more than 26,000 sq ft.
The £3.2 million project would take Sackville’s investment to more than £20 million since it bought the site three years ago.
The company, which is headed by Reading FC chairman John Madejski, has already created more than 85,000 sq ft of office accommodation at the 52-acre site.
A detailed consent has also been obtained for a three-storey, 43,000 sq ft headquarters building. Mike Bracken, a director of Sackville, said the decision to seek approval for the buildings underlined the faith the company had in Tournament Fields.
“Everyone knows that the property market has been hit by the downturn, but Tournament Fields has, to an extent, bucked the trend,” he said.
“We recently completed a 14,500 sq ft, two-storey building, which was let to Swiss sanitary ware firm Geberit and is home to around 30 staff and on completion the investment was sold.
“That is unusual in the current market and we believe the location of this development – being so close to the motorway network – combined with the quality we are providing is helping us continue attracting companies.
The two buildings – of 11,800 sq ft and 14,600 sq ft – have been designed by the Archial Group in Warwick, and will be marketed by Wareing & Company and Savills.
Andrew Wall of Leamington-based Wareing & Co said: “These buildings are designed to cater for a certain size of company and to plug what we see as a gap in the regional market.
“The developers have always stated they wanted Tournament Fields to be a high quality project.”
