£15m speculative development deal announced at MIPIM
A £15 million speculative funding deal agreed with an overseas investor for two large commercial units to be built at Worcester Six was announced at MIPIM UK.
The units of 160,000 sq ft and 45,000 sq ft will be the first to be built at Worcester Six, which will provide up to 1.5 million sq ft of accommodation in a range of high quality business units.
The speculative commercial units have been designed for a variety of employment uses to include technology, manufacturing, industrial and warehousing.
Speaking at a World Class Worcestershire business showcase at MIPIM UK in London, Stoford director Gerard Ludlow said: “We have reached agreement with an overseas investor to speculatively build two commercial units at Worcester Six. Funding is in place for the £15 million deal and we are keen to get started as soon as possible.
“We will soon be submitting a reserved matters planning application with a view to starting construction on site at the end of the first quarter of 2016. The two units should be completed by the last quarter of the year.”