Spa Park's strong environmental credentials helped it to clinch Commercial Development of the Year for the West Midlands, as judges of the CoStar Impact Awards highlighted the scheme's letting success in a market wanting modern industrial accommodation.
Developed by joint venture partners Stoford and global asset manager BlackRock, Spa Park comprises more than 320,000 square feet of industrial accommodation in Leamington Spa, and sits close to the M40 motorway.
Rated BREEAM Excellent, helped by solar panels and electric vehicle charging points, judges said it was unsurprising the scheme secured a prelet with recycling specialist Berry Global and has since signed a handful of others, including US car manufacturer General Motors.
The scheme's popularity with companies "reflects the strength of demand for highly-sustainable industrial space in the region" as well as the appeal of the UK's 'Golden Triangle' as an established-industrial hotspot.
About the Project: The development was brought forward in two phases, with the final phase consisting of one, bespoke 166,000-square-foot production plant, prelet to Berry Global. This was as well as four speculative units between 24,000 square feet and 50,000 square feet.
The first phase is also complete with one unit remaining. All units are net carbon zero. The site has connections to Junction 14 and 15 of the M40, with multiple airports less than an hour away, and major ports less than two hours' drive.
What the Judges Said: Charles Warrack, partner at Fisher German, said: "The letting success of this development is testament to its overall quality and market appeal.
"There is a good tenant mix all of who would have been attracted by the strong eco-credentials offered, including net carbon zero, a target BREEAM 'Excellent' rating, solar panels, electric vehicle charging and an enhanced thermal envelope."
He added: "The developer has been astute in developing the scheme in two phases, including a significant prelet, and also offering a varied range in unit sizes."
They Made It Happen: Tom Bromwich, chartered surveyor and partner at Bromwich Hardy.