Pictured above John Dodds regional director

St. Modwen, the UK's leading regeneration specialist, has announced a tranche of deals totalling 167,249 sq ft  throughout its Shropshire portfolio, in a move that highlights how the region is growing in stature as a location for business, and demonstrates the underlying strength of the regional commercial property market.

Telford has been the focus of much of St. Modwen's recent deal activity in Shropshire, with more than 160,000 sq ft of industrial-warehouse space let or sold in past weeks.  

John Dodds, regional director for St. Modwen, explained: "We have witnessed a period of intense deal activity over recent months throughout Shropshire, and this is a strong signifier of the confidence that exists in the regional marketplace. Despite prevailing economic conditions, occupiers are looking to make an investment in the future of their business and are seeking out new premises to accommodate their growth.  St. Modwen has responded with the provision of well-located business space together with flexible lease terms or the ability to purchase premises, and this approach has proven to be a recipe for success."

At Queensway Business Park, the 2,556 sq ft Unit 301 has been secured by Medlink Enterprises, specialists in Shropshire's nightlife and entertainment industry.  The deal has been agreed at an annual rent of £12,780 with an option for the occupier to purchase the unit after two years. Totalling 12,238 sq ft, Units 400 and 401 at Queensway Business Park have been sold to managed IT solutions provider e-know.net for £810,000, and the 3,455 sq ft Unit 502 has been sold to Telford and Wrekin Council for £224,575.

Queensway Business Park is a self-contained industrial-warehouse scheme with direct access to the A442 north of Telford, situated just four miles from junction 5 of the M54.  The recent deals have been agreed on phase two - a four acre site comprising 78,000sq ft of employment space across 15 units ranging from 2,500 sq ft to 20,000 sq ft.  There are now only six units remaining on this phase.  The 60,000 sq ft phase one comprises more than 43,000 sq ft of industrial-warehouse space across four unit; however just two are now remaining.  17,000 sq ft of offices were previously sold to Geko on this phase.

Elsewhere in Telford, St. Modwen recently let 107,000 sq ft to Invent Solutions at its Brockton Business Park scheme, which is located adjacent to the A442 Queensway, four miles south of Telford town centre and junction 5 of the M54 motorway.

St. Modwen has also secured a major letting at Audley Avenue Enterprise Park in Newport.  Here, Classic Furniture Group Ltd will retain its presence in Newport with a five and a half year lease agreed on 42,000 sq ft of office, production and warehouse space.  The deal was completed within 48 hours and with the fit out under way, Classic Furniture Group is scheduled to take occupation of its new headquarters in January 2010.

Philip Reynolds, managing director of Classic Furniture Group Ltd. said: "The directors of Classic Furniture are delighted to announce that the company is staying in Newport.  Our commitment to Audley Enterprise Park also demonstrates our confidence in the future of the business and we are looking forward to building on our presence in the area with plans for high specification office space that will reflect the nature of our growing company and the Contract Furniture industry that we operate in."  

Andrew Dixon & Company are appointed agents at Audley Enterprise Park.  At Brockton Business Park and Queensway Business Park they are joint agents with Bulleys.