Goodman has submitted plans for a new 334,000 ft² (approx. 31,000 m²) development at Lyons Park in Coventry. This includes a 120,000 ft² (approx. 11,100 m²) pre-let facility for local company, Covrad Heat Transfer. The planned new development at Lyons Park will help to facilitate the growth of businesses in the region, while also attracting investment and jobs to the area.
Covrad will be moving from its current location at Sir Henry Parkes Road in order to expand its operations and provide its 120 employees with a new work space, while creating 60 new jobs.
Goodman is also seeking detailed planning approval to build five new units totalling 214,000 ft² (approx. 20,000 m²) each offering between 30,000 (approx. 2,800 m²) and 50,000 ft² (approx. 4,600 m²) at Lyons Park.
Charles Crossland, Managing Director of Goodman UK Logistics, said that the new development will boost business in the region: “The West Midlands economy has been steadily growing over the past year and Coventry businesses are starting to see the benefits.
“Despite growing businesses wanting to stay in the area, there is a distinct lack of high quality logistics space. If planning permission is granted on this development at Lyons Park, I am confident that we will see strong demand from local companies, like Covrad, that are looking to expand and take on more staff, as well as from businesses outside the area looking for quality, centrally located space.”
“The planned development at Lyons Park demonstrates Goodman’s ability to respond quickly to the needs of our customers and identify relevant industry trends. We have a proven track record of managing the delivery of prime logistics property and we are confident that we will see strong interest in the units as they near completion.”
If planning permission is granted, Goodman anticipates commencing work on the development in September 2014, with completion expected in spring 2015.
Formerly a Jaguar Land Rover production site, Lyons Park is located on the western outskirts of Coventry, close to the A45 trunk road that links the city to Birmingham. It offers easy access to the M45, M6 and M1 motorways and is within four hours’ drive from most of England and Wales. Since purchasing the land in 2009, Goodman has developed the site’s infrastructure and landscaping, ensuring it is suitable for a modern business park that will attract jobs and investment to the area.
CBRE and Savills are acting as joint agents for the site on behalf of Goodman. D&P Holt acted on behalf of Covrad Heat Transfer.