LONDON and Westcountry Estates, which now owns 13 business parks in Devon and Cornwall, is delighted with the sustained growth and demand for business units in Plymouth, especially at Faraday Mill.
Faraday Mill Business Park has always been one of the group's most successful locations, presently being 100 per cent occupied, and it seems Faraday Mill Trade Park is heading in the same direction.
The company purchased the business park premises on June 12 1986. Space totals around 155,000sq ft.
Only 20,000sq ft of that remains available at the ex-Theatre Royal Workshops, now known as Phase 9, Faraday Mill Business Park. However, it is currently under development. 1 Faraday Mill Trade Park was bought by London and Westcountry Estates on December 31, 2002.
The overall space of these premises is approximately 65,000sq ft. It is currently 65 per cent occupied with interest in the remaining space very high and a new letting just agreed.
James Hockin, operations director for London and Westcountry Estates, said: "Over the last 18 months, we have seen huge changes at Faraday Mill Trade Park including rebranding the premises in London and Westcountry standard colours to compliment the adjacent Faraday Mill Business Park.
"We have also undertaken vast developments in order for us to meet the strong demands for trade counter, warehouse and distribution occupiers on site. Although most of the services were in position when we bought the site, the premises have been divided into self contained units of sizes ranging from l,500-8,000sqft.
"Rents on Faraday Mill Trade Park range from ?6 to ?9 per sq ft depending upon the floor space required and the type of business."
Existing businesses on the trade park are currently thriving on continued success with Westcountry Clearance Centre extending its floor space to 4,500sq ft. Other businesses on the park include Arrital Cucine and Car Roof Racks UK.
A new tenant to the trade park is Neil Bryant Interiors which has moved into Units 330-340.
"Mr Bryant has completed on a new six-year, effective, full repairing and insuring lease at a headline rent of ?20,000 per annum. His hard work has really paid off with the forthcoming opening of a fantastic home and business interior showroom and we are sure that his business will fit in well with the other existing tenants on the trade park," said London and Westcountry Estates director Matthew Hockin.
"Work has recently commenced on the ex-Theatre Royal Workshops on Elliott Road, Cattedown, which consists of approximately 20,000sq ft of which 4,500sq ft has just been let to MFI Properties. Newly refurbished units are available from 5,000sq ft to 15,000sqft."
Michael Hockin, chairman of London and Westcountry Estates, said: "The popularity of Faraday Mill has exceeded our expectations enormously. Again we find ourselves in a position to broaden our business further and I can confirm that we will shortly be completing on a new acquisition in Exeter as our regional growth continues.
"More recently, we have also sponsored and organised a Garden Opera which was in aid of the Lord's and Lady Taverners, an exceptional charity for underprivileged children. The evening was a huge success and I take this opportunity to thank the other sponsors for the event which included, Ocean BMW, Westcountry Publications, Arbuthnot Latham and Bettisons Estate Agents."