Over the last 12 months Swindon has witnessed the highest level of investment seen in the last 15 years, according to Alder King Property Consultants.
A number of significant property deals have completed, creating new jobs for the town. These include the decision in June by B&Q to develop a new 796,649 sq ft distribution centre at the Gazeley G-Park, which represented an investment of £77.4 million and is predicted to create 500 new jobs to Swindon.
In February medical products manufacturer Vygon secured planning permission to redevelop the former Motorola site in Blunsdon and build a new 250,000 sq ft warehouse facility, providing numerous employment opportunities for the local area.
Meanwhile Oxford University is progressing with the construction of a new book storage facility for the Bodleian Library on the Keypoint Industrial Development, in South Marston. The £25 million facility will be able to hold approximately four million books when it is completed later this year.
TS Tech also reaffirmed their commitment to Swindon in June and took a new six year lease on 210,000 sq ft of warehouse space in the Spectrum Building. The company, which supplies car seats to Honda, will relocate some of its staff from Highworth to the building but will also be recruiting additional staff locally.
The recent investment is not solely constricted to the industrial market. In May John Lewis announced a £7 million investment in the town. The retailer has taken a new 15 lease on a 59,000 sq ft retail unit on the Mannington Retail Park and will use it for an “at home” store. The store will create around 160 jobs when it opens in the autumn.
James Gregory, partner at Alder King commented: “It is very positive news for the future of our town that even in the aftermath of the recession we are attracting major brands and institutions who wish to invest in property and employ local people. One major factor is Swindon’s location on the M4, which makes it a perfect distribution destination for major retailers looking for a base in the South of England. Swindon can also offer businesses very competitively priced property in comparison to the nearby cities of Reading and Bristol and has a plentiful supply of skilled labour, all key considerations for employers searching for new premises.”
