Redsun Projects has announced the completion of Pioneer Park, an 80,000 sq ft industrial scheme in Telford with deals completed on all three units.
Designed by Fletcher Rae and constructed by Morris property, Pioneer Park at Halesfield 18 was developed on a speculative basis following a £4.5m funding injection by West Midlands Combined Authority (WMCA), managed by Frontier Development Capital (FDC).
Smartwater Group, advised by MK2 Real Estate, has taken unit 1 (23,000 sq ft) on a 15-year lease, unit 2 (14,000 sq ft) has been sold to Load Lock and the final 40,000 sq ft industrial building has been let to Sirane Ltd on a 10-year lease.
The development is a Telford Land Deal project, a partnership between Telford & Wrekin Council, Homes England and the Marches Local Enterprise Partnership (LEP) formed in 2015, which brings forward sites, de-risks them and provides shovel ready development sites which are available to develop for employment and residential use.
Redsun acquired the two-hectare site from Homes England in a sale which was facilitated by Telford & Wrekin Council through the Land Deal and the project has created local employment opportunities in a variety of site roles.
Nick Wightman, director at Redsun Projects, said: “Securing occupiers for all three speculatively built units before completion demonstrates the strong uptake for high quality industrial buildings in Telford. Thanks to the funding provided by WMCA we have been able to build on the existing success of Halesfield Industrial Estate and attract more businesses to the scheme.
“Pioneer Park is an exemplar of what can be achieved when the right public funding is spent in the right way and we very much look forward to working with WMCA in the future.”
Ed Bradburn, investment director at FDC, who manage the fund on behalf of WMCA, added: “It’s great to see this speculative scheme securing occupiers before completion, exactly what the funds under our management are designed for. Redsun’s Pioneer Park is another example of the WMCA funds supporting the development of much-needed industrial warehousing in the West Midlands, creating further jobs and enhancing investment into the region. We look forward to working closely with Redsun in the future.”
James West, COO for Morris Property, said: “This is an exciting time for our team in Telford. This was our first project in partnership with Redsun, who have already delivered one million square feet of commercial floorspace across the Northwest, West Midlands and North Wales.”
The wider project team included Contractor Morris Property, Warrington Martin as project manager, Caulmert engineers and Crookes Walker Consulting acting as M&E consultants for the scheme.
