New Witney commercial development fully occupied
The first new commercial property estate in Witney for several years has proved to be a major success.
Stanley Court in Richard Jones Road, Witney is now full with 35 industrial/warehouse units either under offer, let or sold by joint agents VSL and Carter Jonas acting for developer Glenmore.
Despite the impact of Covid-19 and lockdown, demand and take-up have been strong with the site full within 18 months of building work being completed. Significantly, half of the units were let or sold since the start of this year, all of them at market rates.
Will Davis of VSL said: “Stanley Court has been a highly successful development. A key factor in the success of the development has been the lack of alternative stock in the market. This was the only freehold opportunity available in Witney and Glenmore have delivered the right product in the right location.”
Stanley Court was offered on a freehold or leasehold basis and take-up was a 50/50 split between freehold purchases and leasehold agreements.
Recent transactions include:
- 6 Stanley Court to Blenheim Flooring which took a 1,353 sq ft industrial unit on a 5-year lease
- 27 Stanley Court to Dovecote Windows which took a 1,026 sq ft unit on a 5-year lease
- 18 Stanley Court to Oxyplumb which took 1,371 sq ft unit on 5-year lease
Other firms at Stanley Court include pharmaceutical business Lincoln Medical, property management specialist Remus, Bioproject UK, Refurb Property Renovations and KPM Carpets and flooring.
Stanley Court follows the success of the Glenmore Business Park in Langford Locks, Kidlington.
Jon Silversides, Partner, Commercial, Carter Jonas Oxford said: “Carter Jonas has been involved with Stanley Court since its inception. Having sold the site to Glenmore originally and now as a retained joint-agent, we are extremely proud to have played a key role in completing the circle, announcing that it is now fully occupied. The rate at which units at Stanley Court have been taken up reflects the quality of the space available and the sites established commercial location in an area that has recently benefitted from wider infrastructure improvements.”
For further information or to speak to one of VSL & Partners experts, please call 01865 848488 or visit the new website www.vslandp.com
More in Commercial Property
Wootton Science Park unveils £35 million masterplan for new SME science...
Hartwell Plc, the automotive and property development company, has unveiled emerging designs to deliver new carbon efficient lab and workspace buildings for small and medium sized science and technology companies and amenities at Wootton Science Park to the south-west of Oxford.
Green light for Bicester Motion’s new £50 million Innovation Quarter to...
Detailed designs for seven new, prestigious HQ buildings which total 212,030 sq ft (19,698 sq m) and will be built at Bicester Motion’s new Innovation Quarter have been given the green light by Cherwell District Council.
Oxford Innovation Space to manage £14m Vulcan Works Creative Hub
The high-end workspaces are expected to be available from early next year.
From this author
Abingdon Business Park welcomes a host of new tenants
Royal London Asset Management and XLB has successfully let the last remaining unit at Foxcombe, a 10,000 sq ft high tech industrial unit, on a 10-year lease to Alloyed.
CBRE Makes Senior New Appointment in Oxford Office
Global real estate advisor has appointed Kevin Wood as a Senior Director in its Oxford office. Kevin joins the firm from Lambert Smith Hampton where he was head of the Oxford office and led the national Life Sciences team.
Fantastic new investment / development opportunity on Cowley Road
Commercial property specialists VSL & Partners are bringing to the market this fantastic opportunity for an investor/developer to purchase this very rare freehold mixed use site with main road frontage onto Cowley Road.