St Modwen has signed a deal to develop a 102,000 sq ft warehouse at its Gloucester business park for a company which stores Dyson vacuum cleaners.
The developer has forward sold the building at Quedgeley West Business Park in Gloucester to CM Downton for an undisclosed price.
The 102,000 sq ft building will amalgamate two of CM Downton’s existing warehouses in the region and is located half a mile away from the firm’s head office in Moreton Valance.
St Modwen has just secured planning for the unit, which will be the second largest warehouse to be developed on the 32 acre park following a 196,000 sq ft pre-let to Prestoplan in 2006.
Rob Skelston, senior development manager for St Modwen, said: ‘Quedgeley West continues to attract mid to large scale occupier interest given the site’s prominence to the A38 and proximity to the M5.’
Andy Downton, managing director of CM Downton, said: ‘We looked at many sites but the park’s close proximity to Junction 12 was the deciding factor.
'It represents a significant investment for the company but underpins our confidence in the future and our continued commitment to invest for the long term.’
Ash & Co and DTZ act for St Modwen.