MEPC increases speculative industrial development at Silverstone Park to 258,000 sqft
MEPC have confirmed that the 138,000 sqft speculative development scheme at its high-tech business estate, Silverstone Park, will be increased to 258,000 sqft due to market demand.
The increase in development will enable an extra 13 industrial units, workshops and R&D facilities. The premise will be designed to offer greater flexibility for occupiers due to unit sizes ranging from 6,000 sqft to 40,000 sqft. Despite the increase, the scheme is still due to be completed summer 2020.
All 13 units fall within the Park’s Enterprise Zone, offering qualifying businesses five years of rate relief from up to £55,000 per year.
“Supply of buildings of this type in tech/manufacturing has been reducing in the area – we are going to restore the supply that the market needs. By offering large units to let, we’re enabling ambitious companies to grow and also freeing up smaller spaces for companies coming in behind them, with the same ambition but at an earlier stage in their business lifecycle.”
Roz Bird, Commercial Director at Silverstone Park
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