Building work has started on the first speculative industrial development in Swindon since the economic downturn – a clear sign say property agents that the market is recovering.
The 35,250 sq ft scheme of small industrial/warehouse units on the Glenmore Business Park at Westmead has already attracted three reservations for its first phase of 13 units, which range in size from 969 sq ft to 1,604 sq ft. Larger units will be available through combination.
The scheme, on the site of a former coldstore and warehouse demolished late last year, will have two further phases, while planning consent exists for a larger 35,000 sq ft warehouse and a separate office scheme on adjoining land.
Developer London-based Glenmore Commercial Estates specialises in small unit schemes and has previously developed 16 units at nearby Rivermead.
Swindon-based joint agents Whitmarsh Lockhart and Loveday said: “This is a very exciting moment in the commercial property marketplace. We have been experiencing increasingly positive demand from the business world and Glenmore’s decision to develop a small unit scheme of this nature is a reflection of our belief in the marketplace going forward.”