A new £3.6 million business park on the outskirts of Newquay is reporting 100% occupancy.
Property consultants Alder King and Stratton Creber Commercial have now sold or let all six units at Quintrell Downs, to a range of local and national occupiers, 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 it can grow.
Residential developer, Legacy Properties, has purchased the long leasehold interest of Unit 2b for its new Cornish headquarters, while 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.
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.
Gareth Wright, director of IT Services at King’s College, said; “We are delighted to be establishing a purpose-built service centre at the Quintdown Business Park.
“Technology Services are vital to King’s future success and creating a world class service centre is an important part of our long-term strategy. The new facility will play an important part in maintaining and improving our position as a world-leading university and support King’s through a period of targeted growth. The service centre will create new roles at the business park and utilise Superfast Cornwall’s recent investment of £132 million in fibre optic broadband.
Fortdown Developments Ltd plans to develop the remaining three 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.
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.”