New plans for old factory site as development on the cards
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