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 | | FULL MARKS FOR CHASE COMMERCIAL | | | Chase Commercial | | 29/10/2006 | | |
Stratford development scores 100% as all units are snapped up within weeks of starting on site
Stratford-based property developer, Chase Commercial, has been practically knocked down in the rush by companies wanting to secure one of its nine industrial units at its development at Timothy's Bridge Road business park, Stratford.
Just weeks after starting on site, all nine units - which range in size from 2,000 sq ft (185 sq m) to 4,100 sq ft (380 sq m) - are now under offer and have attracted local companies from a variety of sectors, ranging from shop fitters and builders to electrical and catering.
Commenting on the success of the development, Mark Robinson, development director at Chase Commercial says:
'Chase is the only developer to be speculatively building small industrial schemes in the area. The speed in which the nine units have been snapped up and the fact that they will not be ready for occupation until December this year, firmly underlines the pent up demand the market holds for this kind of product and highlights that there is probably room for more.'
The 20,000 sq ft (1,858 sq m) industrial scheme forms Phase III of Chase's development at the business park. At the same time, the company has started on site with Phase II; a scheme of nine office units ranging in size from 1,500 sq ft (139 sq m) to 2,800 sq ft (260 sq m) - both are being constructed by Chase Norton Construction and are designed by Chase Design Group.
Mark Robinson continues:
'The popularity of the industrial scheme is also an indication that Stratford is not only a popular place to visit and to live but is fast becoming a strong commercial centre. This can be further qualified by the strong demand we are currently receiving in Phase II and the fact that we sold all of Phase I, a development of seven small office units, within just three months of completing building works.'
Both Phase II and III will be completed at the end of this year. The remaining office accommodation is currently available on a leasehold or freehold basis at £17.50 per sq ft and £195 per sq ft, respectively.
Joint agents, representing Chase Commercial, are Wareing & Company and KWB.
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