Work starts on Silverstone business estate
MEPC, the asset manager and developer of Silverstone Park, has revealed artist’s impressions (pictured) of how it will develop the business estate on land next to the Silverstone Formula 1 Grand Prix circuit.
Construction work has started on 14 new speculative industrial units for high-tech engineering companies, totalling 125,000 sq ft. The units are arranged as two self-contained buildings and two terraces and range in size from 5,000 sq ft to 25,000 sq ft.
The units, built to shell and core specification, offer flexible accommodation. They will provide a blank canvass ready for a company’s bespoke fit-out and can be amalgamated to create a wide range of unit sizes. All can be used as B1 (light industrial use and R&D), B2 (general industrial use) or B8 (distribution).
The imminent opening of a state-of-the-art metrology facility in the Silverstone Park Innovation Centre – in collaboration with world-leading company Hexagon Manufacturing Intelligence – will add to the site’s offer, attracting local and global precision engineering companies in a variety of sectors including motorsport and medical devices.
The project will be highly desirable given its location – opposite the main entrance to the Silverstone circuit. Each property will sit in newly landscaped grounds adjacent to the already successful Buckingham Road units which have proved popular with many premier engineering firms and motor racing teams.
James Dipple, Chief Executive of MEPC, said: “Our market research shows that there is a shortage of industrial units in this size range.
We have already received enquiries from some interesting companies that want to join the Silverstone Technology Cluster.
“Since taking over management of Silverstone Park in September 2013, MEPC has increased the number of high-tech businesses on site from 50 to more than 70 and built two new 8,000 sq ft units on land already within the existing Silverstone Park footprint. This project is therefore terrifically exciting for MEPC – it really marks the next steps in reinforcing the global significance of the high-tech cluster.”
He added: “These units are of a high specification, designed to meet the requirements of a broad range of occupiers and include high eves of up to eight metres plus five-metre high loading doors.
“The units also meet the standards set by BREEAM (the Building Research Establishment Environmental Assessment Methodology, a Government body which researches energy sustainability).
“We are very proud of the detail that has gone into the preparation for this development scheme. The first stage will include creating a level platform on the land and laying the foundations and base layers for roads with the first steelwork going up around the end of June.”
Letting agent for this scheme is DTRE. Its associate partner James Watson said: “This exciting new phase of development at Silverstone Park reflects the growing success of businesses involved in the high-tech sector. Demand for high quality business premises is now significantly outstripping supply not only at Silverstone Park but in the surrounding regions.
“Since MEPC purchased Silverstone Park, we have been delighted with the level of take up at the existing Buckingham Road units and are confident of some exciting announcements to follow shortly. We’re open for business and would be delighted to open dialogue with any potentially interested party.”