Quintrell Downs Business Park fully occupied
A new £3.6m business park on the outskirts of Newquay is in a celebratory mood this January after all six units were snapped up prior to the business park’s completion in October 2014.
Since commencing work in late 2013, the site at Quintrell Downs has had major interest due to the lack of available high quality workspace in the Newquay area.
This first phase of development, which was part funded by the ERDF Convergence Programme, created a brand new, fully serviced and accessed business park featuring six high quality employment units and a further 3 acres of development land.
Property consultants Alder King and Stratton Creber Commercial have now sold or let all six units to a range of successful local and national occupiers, creating new employment and making a second phase of speculative development increasingly likely, subject to the availability of grant funding.
New occupiers in the four unit terrace include Cyberstein Robots Ltd which has purchased a long leasehold interest in Unit 2a. The company behind the cult character Titan the Robot has relocated from its previous base at Treloggan Industrial Estate in Newquay to secure larger and more energy-efficient premises in which they can grow.
Residential developer Legacy Properties has purchased the long leasehold interest of Unit 2b for its new Cornish headquarters housing a number of professional employees working on some exciting projects.
Roche-based Celtic Tuning, which specialises in vehicle management software and operates globally, has taken a 15 year Lease of Unit 3a, with the option to purchase the 4,508 sq ft semi-detached unit at a later date. The new unit will become the company’s new headquarters.
King’s Business Ltd, a not-for-profit company owned by King’s College London, has purchased a 4,500 sq ft facility and has already started significant fit out works to transform the space into an IT Service Centre. It plans to be fully operational by March/April 2015 and will create a significant number of new jobs with further growth plans predicted.
John Richards from Fortdown Developments said: “Everyone at Fortdown Developments is delighted that the workspace has been so popular and that they will be occupied by a varied set of local and national businesses – all of whom are growing businesses who plan to create new, well paid jobs over the coming months and years. The location, quality and specification of these premises demonstrate the need for quality workspace in the Newquay area.”
Fortdown Developments Ltd plans to develop the remaining 3 acres of land on the business park for further commercial development. However, they will also consider disposing of individual development plots or larger parcels of land should that be of interest. John went onto say: “Thanks to the amazing response to the first phase of this development we encourage anyone looking to expand to consider the Quintrell Business Park as their first choice for relocation or expansion.”
Tom Duncan, head of agency at Alder King’s Truro office, said: “Fortdown’s development was one of the first speculative schemes in Cornwall for several years and the successful disposal of all six units before the end of the year demonstrates that Cornwall businesses will move quickly to secure quality new space when it is immediately available and ready to move into.
“We anticipate that when the next stream of ERDF grant funding becomes available in the summer of 2015, we’ll see further speculative development get underway to give expansion opportunities to more of Cornwall’s most flourishing businesses.”
It is hoped that over the next few years and with further phases of commercial development likely (subject to grant funding) that a large number of jobs could be created and supported as a result of this development.
The units, which range in size from 1,830 to 4,500 sq. ft., are all highly sustainable and have been built to BREEAM Excellent standards. The developers Fortdown Developments Ltd have future-proofed the units by installing roof mounted Solar PV, highly efficient heating systems, high levels of insulation and other environmentally friendly technologies that when combined together will result in lower energy costs for occupiers.
Chris Pomfret, Chair of the LEP and Deputy Chair of the Convergence Local Management Committee, which steers the Convergence Programme said: “It is important to remember that Convergence investments are still delivering great results across the region. Quintrell Downs Business Park is an excellent example of a private and public partnership to develop workspace to fulfill business needs in the area.”
The units use a range of high performance materials, including timber cladding (from a sustainable source) and incorporate flexible office space that can be extended horizontally and vertically to suit the end users’ specific requirements. Externally, the units include car parking spaces which are complemented by cycle storage and recycling facilities for the future occupiers use.
Robert McGuffie of RJM Property & Development Consultants Ltd has been working with Fortdown throughout the project and said “We have been delighted with the response received to this speculative project and it can be used as a great example of providing the right flexible space for businesses looking to expand and locate in the area. Whilst these units are now occupied, further opportunities will be available on the remaining development land and interested parties should contact myself, Fortdown Developments Ltd or their agents Alder King and Stratton Creber.”
Image: Quintrell Downs Business Park
- BREEAM stands for Building Research Establishment Environmental Assessment Method
- Robert McGuffie from RJM Property & Development Consultants Ltd undertook the preparation of the Convergence Grant Funding application on behalf of Fortdown Developments Ltd.
Quintrell Downs Business Park is part financed by the European Regional Development Fund Programme 2007 to 2013. The Department for Communities and Local Government is the managing authority for the European Regional Development Fund Programme, which is one of the funds established by the European Commission to help local areas stimulate their economic development by investing in projects which will support local businesses and create jobs.
For more information visit:
ERDF Convergence: £2,071,083
Fortdown Developments Ltd: £1,530,800
For more information visit www.erdfconvergence.org.uk
Media Relations Officer for the Convergence support team
Robert McGuffie MRICS BSc (Hons)
Director, RJM Property & Development Consultants Ltd
Tel: 01726 66922
Email: [email protected]
Economic Development and Culture
Economy, Enterprise and Environment Directorate
Cornwall Council, 4th Floor, West Wing, New County Hall,
Treyew Road, Truro, TR1 3AY
Monday 19 January 2015