Global integrated property group, Goodman, has secured planning permission for two new developments at Lyons Park in Coventry totalling 334,000 sq ft.
The first is a 120,000 sq ft pre-let for local company, Covrad Heat Transfer, which will be used as B2 industrial space. Already based in Coventry, Covrad will move from its current location at Sir Henry Parkes Road to accommodate its expansion. Its new premises on Lyons Park will also enable the company, currently employing 120 people, to create an additional 60 jobs.
Planning permission has also been received for a 214,000 sq ft development comprising five industrial and distribution units of 30,000 to 50,000 sq ft. The development of the new units will help facilitate the growth of other local organisations and attract inward investment to the region.
Building works for both developments will commence in October and are due to complete in spring 2015.
Charles Crossland, Managing Director of Goodman UK Logistics, said: “Securing planning permission for these developments is great news for the region. In this part of the UK there is a lack of supply of Grade A industrial space. The development of these units will give local companies the opportunity to expand while also attracting other businesses into the region.
“Goodman has a proven track record of managing the delivery of prime logistics property developments and we are confident that we will see strong interest in the five units as they near completion.”
There remains 880,000 sq ft of land available for design and build opportunities at Lyons Park. Formerly a Jaguar Land Rover production site, the park is located close to the A45 trunk road that links Coventry to Birmingham. It offers easy access to the M45, M6 and M1 motorways and is within four hours’ drive of most of England and Wales.
Goodman has invested £130 million into its 1,000 acre UK land bank to ensure that outline planning and infrastructure are in place and sites are ready for construction. This unique offering dramatically reduces the time it takes to build fully operational logistics centres. Goodman has 17 strategically-located sites across the UK capable of delivering over 19 million sq ft of bespoke development. These sites offer exceptional access to key transport hubs, including motorway interchanges, ports and airports.