6 February 2019
Business Space, Development
Construction has begun on a major new logistics & industrial development in Sussex, with 84,000 sq ft being developed by Tungsten Properties. SHW Business Space have been instrumental in the project’s conception and driving it forward so far.
43,000 sq ft has already been pre-sold to Pets Corner, and a transaction has been agreed to sell the remaining 40,000 sq ft to an investor meaning units are now available To Let from 10,000 – 40,000 sq ft.
The developer, Tungsten Properties are one of the leading Industrial and Logistics Developers in the UK and in 2017 Tungsten won the IAS (Industrial Agent Society) Award for Best UK Multi-Let Industrial Estate.
There is a timelapse camera giving daily updates on the build – completion is due in July 2019: https://tungsten.reachtimelapse.co.uk/handcross/
Simon Forrest, Property Director for Pets Corner said: “We have been looking for a suitable freehold warehouse facility for about five years and were surprised by the real lack of opportunities in this part of Sussex.
“Most developers sadly seem more interested in building houses but businesses like ours need to be able to grow and provide jobs for the people who will be living in those houses. Fortunately, with the help of SHW, we were able to secure our building off plan and we look forward to taking possession later this year.’’
Jeff Penman, Managing Director of Tungsten Properties said: “We were delighted to win the acquisition of this site, given its important strategic position, and the dearth of supply along the A23 corridor. Construction is now firmly underway with the first steelwork due to go up shortly.”
Tim Hardwicke, Head of Business Space for SHW said: “it is great to see speculative development paying off in the form of these two sales being agreed during construction. Demand in the south east for new high quality units continues to be high whilst a combination of factors has resulted in wholly inadequate supply. Fortunately developers such as Tungsten have had the foresight and courage to take the necessary steps to help alleviate the shortfall, and SHW have been able to draw the necessary parties together in order to make it possible.”
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