New plans for old factory site as de­vel­op­ment on the cards

Gloucestershire Echo - - BUSINESS - By PHIL NOR­RIS

BRIGHT-GREEN hoard­ings have gone up around a site that could be set for a trans­for­ma­tion. The boards are hard to miss and go around the for­mer Vibixa site at the Kings­ditch Trad­ing Es­tate.

They fence off an area of land where the factory that made Weetabix boxes for more than half a cen­tury closed back in 2015.

The site was owned by the ce­real gi­ant and pro­duced 6.7 mil­lion boxes a week for a range of brands in­clud­ing Alpen, Ready Brek and Honey Mon­ster Puffs un­til it closed with the loss of 100 jobs.

And plans are now afoot to bring new busi­nesses and jobs to the site off Run­nings Road and Wy­mans Lane on the trad­ing es­tate that is al­ready home to Screw­fix, Hal­fords, Home­base and M&S.

A pre-ap­pli­ca­tion en­quiry has been sub­mit­ted to Chel­tenham Bor­ough Coun­cil seek­ing to de­mol­ish the build­ings and to build 15 sep­a­rate units.

And a plan­ning ap­pli­ca­tion for ad­ver­tise­ments to be run along the hoard­ings is now in with the coun­cil.

Art­work sub­mit­ted with the ap­pli­ca­tion brands the prospec­tive de­vel­op­ment as Fes­ti­val Trade park with in­dus­trial and trade units avail­able from 3,444 sq ft to 12,724 sq ft.

The de­vel­op­ment would cover five acres and is a joint ven­ture be­tween

de­vel­oper Chancery­gate and in­ter­na­tional real es­tate firm Hines.

To­talling 102,000 sqft, the pro­posed scheme will in­clude six trade counter units cov­er­ing 26,000 sqft of space.

The scheme’s gross de­vel­op­ment value is around £16mil­lion.

This is the first site pur­chased by the Chancery­gate and Hines joint ven­ture, just four months after the part­ner­ship was es­tab­lished with the strat­egy of de­vel­op­ing prime, multi-unit in­dus­trial and lo­gis­tics sites.

Chancery­gate de­vel­op­ment man­ager Ge­orge Dick­ens said: “Kings­ditch is a prime trade counter, car show­room, road side and in­dus­trial des­ti­na­tion, which fully sup­ports our de­vel­op­ment strat­egy.

“We have a strong track record in identifyin­g well con­nected, strate­gic lo­ca­tions, of­ten in ar­eas that have seen a short­age of new sup­ply.

“I’d en­cour­age po­ten­tial oc­cu­piers to en­quire now about pre-let op­por­tu­ni­ties.

“Chancery­gate un­der­stands and de­liv­ers what oc­cu­piers want, and with Hines’ in­vest­ment ca­pa­bil­i­ties we have a very at­trac­tive of­fer.

“We look for­ward to re­veal­ing more de­tails about the scheme in fu­ture.”

Hines se­nior manag­ing direc­tor and UK head, Ross Blair, added: “At the time of es­tab­lish­ing our joint ven­ture, we said we would make de­ci­sions at speed and grow a pipe­line quickly.

“With this first deal, we’ve ab­so­lutely done that.

“In­dus­trial de­vel­op­ments are a vi­tal as­set class in Hines’ diver­si­fi­ca­tion and we’re con­fi­dent in­vestors will see re­wards from the joint ven­ture.”

Prop­erty agents KBW acted for the ven­dor. phillip.nor­[email protected]­plc.com

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