Speculative office development at Ivanhoe Business Park

A UGL company today announced that Clowes Developments (UK) Limited has now completed the construction of the latest phase of new grade A offices at Ivanhoe Business Park in Ashby de la Zouch, Leicestershire.

In addition, Clowes Developments together with the joint agents DTZ and Salloway are delighted to also confirm that an existing tenant on the office park, is under contract to lease one of the newly completed buildings.

SVA Limited are a local company who were established in Ashby in early 2010. Since then their business has gone from strength to strength. The company already occupy approximately 11,000 sq ft of laboratories and offices on the park and due to the rapid growth in their business, SVA will be leasing a further 6,500 sq ft, which will take their total occupation at Ivanhoe to 17,500 sq ft.

The company have contracts with a number of food retailers and gives technical governance and legal compliance services to the food and consumer products industry, aiming to provide a guarantee of product integrity and brand assurance through extensive product testing and consultancy. With the growth in demand for their expertise, their skilled workforce of food technologists and scientists together with IT specialists has grown from 10 in 2010, to 110 currently, resulting in the need for additional space.

James Richards, Development Surveyor at Clowes Developments (UK) Limited, commented: “This early success with the letting to SVA, vindicates our decision to construct these buildings on a speculative basis when no other office development is being undertaken in the area. The offices are a showcase of our new specification and incorporate high quality interior and exterior finishes, and we are confident that further announcements will be made soon.”

Helen Longstaffe, Director with DTZ, commented that “The letting to an established tenant of the Park confirms its success as a business location. We are still able to offer Grade A offices from 3,174 sq ft up to 4,517 sq ft, together with the potential for design and build for larger requirements, and would be happy to talk to companies who may have current requirements.”

Phil Randle, Partner at Salloway, echoed the views of James and Helen and added “it is pleasing to see one of the original occupiers expanding so rapidly and providing a boost to the local economy.”

Located two miles from Junction 13 of the A42 directly off the A511, Ivanhoe Business Park comprises a 29 acre landscaped development offering design and build offices from 2,000 to 50,000 sq ft. Existing industrial/warehouse units are available between 4,000 sq ft to 7,000 sq ft and up to 170,000 sq ft on a design and build basis.