Whittle Estate set for new take-off

1st April 2009

Plans are in place to redevelop and expand the Whittle Industrial Estate at Whetstone, creating a high quality commercial environment, designed for business to grow.

Property fund manager, the Berkshire-based Highcross, acquired the 54-acre Whittle Industrial Estate, Cambridge Road, last summer, in a £25m deal offering a strong combination of asset management and development opportunities. Leicester-based commercial property specialist Andrew and Ashwell is marketing substantial investment by Highcross to further develop the estate and improve the quality of existing buildings.

Planning consent has recently been granted for the part development of ten acres of land at the rear of the estate, featuring a terrace development of 11 new units, ranging from 2,500sq ft to 6,000 sq ft, together with a 40,500 sq ft stand alone unit, within an attractive, landscaped setting. A start date has yet to be arranged, but significant further development is also in the pipeline, subject to planning consent.

The Whittle Industrial Estate currently comprises c.650,000 sq ft of industrial and office accommodation, from 500 sq ft to 97,000 sq ft. Built and formerly occupied by GEC/Marconi for almost 50 years, as the home of the jet engine, the estate is let to a range of occupiers, including systems engineering specialist, BNS Nuclear Services Ltd.

The convenient location, approximately five miles south of Leicester and four miles from motorway networks at M1/M69 junction 21, offers broad appeal for small- medium-sized enterprises right through to large PLC’s.
Joe Curlett, Asset Manager for the Highcross Midlands office, said vacancy levels on site were currently low, owing in part to the general lack of industrial supply within the area.

“Tenant demand remains high for industrial units in the area with a shortage of supply throughout the market across the board. For Highcross the estate presents an exciting opportunity to enhance and develop an underutilized working estate by making significant phased improvements over the next few years.”

Malcolm Grayson, Managing Partner at Andrew and Ashwell, confirmed the appeal of the site:

“The district of Whetstone is established as a good, strong area for
local and regional business. It has extremely close proximity to major
road networks and provides varied employment opportunities, which make it one of Leicester's best areas for commercial property."