Work has begun on 265,000 sq ft of speculative industrial buildings at Silverstone Park.
A total of 260,000 sq ft was let at the park last year and now the next (third) phase of a major expansion represents the largest properties yet constructed by MEPC at the park. One of the buildings will offer more than 90,000 sq ft of space. MEPC has consent for a total of two million sq ft.
Commercial director at Silverstone Park for MEPC, Roz Bird said: “The Phase Three scheme will provide larger facilities for growing companies, and companies attracted to the area because of the skills in advanced engineering.
“With this latest scheme we again hope to attract a wide range of tenants involved in advanced engineering, manufacturing and industrial processes.”
MEPC is now open to enquiries from businesses in the new space which is due for completion at the end of this year.
Barnwood Construction which oversaw Phases One and Two is also main contractor for Phase Three.
Ms Bird went on: “In 2020 we transformed the west side of the estate, with new accommodation, attracting successful advanced engineering businesses, as well as the construction of a new spine road, through the site, and earth works to ensure all remaining land is ready for development. The latest scheme sits right in the centre of this site.
“When we acquired the land around the Silverstone GP Circuit in 2013 there was about 250,000 sq ft of accommodation built and let. We undertook several small speculative schemes which took us to around 400,000 sq ft by 2019.
“The construction of Phase One and Two, in 2020, took us to 670,000 sq ft, built with only a couple of buildings remaining available to let. Phase Three will take us to nearly one million sq ft on site, and we’re not even half-way through the two million sq ft of planning consent.”
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