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Gloucestershire Business News

Developer seeks funding partner for Moog facility

The developer of a £40million manufacturing and design facility in Tewkesbury is looking for more than £35million forward funding.

Development and investment company Barberry Industrial has agreed a pre-let deal with Moog for the 184,000sq ft centre of excellence company's aircraft controls operation.

Barberry acquired the 10-acre site near Junction 9 of the M5 at Ashcurch from Sainsbury's with work scheduled to begin early next year, subject to planning permission.

Global real estates firm Cushman & Wakefield is acting on behalf of Barberry to appoint a funding partner.

Barberry development director Jon Robinson said: "We are delighted to be presenting this long income opportunity to the market working closely with Cushman & Wakefield to secure a forward funding partner for this high specification, state-of-the-art industrial building."

Based in the town for more than 40 years, Moog's aircraft controls operation in Tewkesbury is the global centre of excellence for design of servo valves and houses a large engineering division.

The facility, which could expand to 207,000sq ft, will incorporate engineering and administration offices and is expected to be operational in 2023.

The pre-let deal is on a 35-year lease.

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