Cheltenham firm expands into new Gloucester M5 business park
By Andrew Merrell | 10th March 2020
The first industrial unit at the new 58-acre development St Modwen Park Gloucester business park has now been let, to a Cheltenham firm with ambitious growth plans.
Agents Bruton Knowles has revealed it has completed the acquisition by lease of Unit Two on the site near Junction 12 for Adey Innovation Limited, in what it otherwise calls a "highly confidential acquisition".
It means the award-winning manufacturer, Adey Innovation Limited, will be the first business to move into St Modwen Park Gloucester, which when complete promises to deliver near one million square foot of space and create 1,250 jobs.
Lee Carlin, ADEY's operations director, said: "This is an exciting time for the business and the right time to expand and invest in our operational structure, to help manage supply and growth in the UK market and overseas.
"As a manufacturer, we're driven to better manage our environmental footprint and impacts of our business. One of the reasons we chose St Modwen Park Gloucester was the strong sustainability credentials of the development.
"The new site supports many of our environmental and corporate social responsibility goals, such as switching from diesel vehicles to a hybrid fleet utilising onsite electric charging point. It's a great platform that will be fundamental in supporting our future growth."
Property investment and development business, St Modwen, completed the first phase earlier this month, bringing three new speculative units to the market in a prime business and industrial area.
Adey Innovation Limited's new 44,860 sq ft unit will provide modern, high-spec office, manufacturing and distribution space just minutes from J12 of the M5.
It will support the business in delivering water treatment products through the invention of advanced technology and industry leading products.
Dorian Wragg, head of commercial at Bruton Knowles, Gloucester, said: "Adey Innovation Limited is a prominent business within the Gloucestershire region and an acquisition of this size and significance was highly confidential and required a high level of proficiency from our commercial property team."
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