Tungsten Properties, a mid-box industrial and warehouse developer, has commenced construction of its 18-unit industrial development site in Oakham, Rutland, Leicestershire.
Located at Panniers Way in Oakham to the east of Leicester, the new 3.79-acre project will include 18 industrial and trade counter units ranging between 1,000ft2 and 9,000ft2.
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It will also include a small number of fast food and retail premises.
Rutland County Council has granted planning consent for the site in May this year.
The new industrial and trade counter site is within a masterplan of development, which will feature Aldi Supermarket, a Marstons’ pub, McDonald’s restaurant, and BP/M&S Petrol Filling Station.
Construction firm Wilten Construction has been appointed as the contractor, while Reid Commercial Property and Phillips Sutton are working as the joint leasing agents for the new development.
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By GlobalDataTungsten Properties associate development director Jenny Clarke said: “Oakham has a strong market with high demand, so we’re excited to get started to build these new high spec units for local and national businesses.
“Already, more than 60% of units are under offer to companies to let them, showing the strength of demand out there from businesses. We look forward to announcing the news as soon as we can.”
The new units are expected to be ready by early spring next year.
In September this year, the company sold four warehouse units at its new warehouse and industrial project in Downs Road of Witney, Oxfordshire, to BP Pension Fund’s subsidiary Ropemaker Properties for £26m.
The four units are part of the first phase of the seven-warehouse and industrial building project.
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Ground-breaking ceremony at the new 18-unit industrial development site in Oakham, Rutland. Credit: TUNGSTEN PROPERTIES.
