Following the successful letting of 260,000 sq ft in 2020, work has started on site to construct a further 265,000 sq ft of speculative industrial buildings at Silverstone Park.
The scheme, Phase 3 of the 2m sq ft outline planning consent, will comprise the largest properties yet constructed by MEPC at Silverstone Park – the largest buildings will offer over 90,000 sq ft of accommodation.
MEPC’s Roz Bird, Commercial Director at Silverstone Park, said: “The Phase 3 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.”
The programme of works for Phase 3 will begin this week and will run until the end of the year.
Barnwood Construction will be the appointed main contractor for Phase 3, having successfully overseen construction of MEPC’s Phase 1 and 2 of development on site.
Roz enthused: “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 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 1 and 2, in 2020, took us to 670,000 sq ft, built, with only a couple of buildings remaining available to let. Phase 3 will take us to nearly 1m sq ft on site, and we’re not even half-way through the 2m sq ft of planning consent.”
She added: “What is significant to note is the mix of advanced engineering companies, with specialist facilities, moving to Silverstone Park. These companies have moved to the park to maximise the Silverstone brand, and benefit from the central location and the skills in the local area.
“I believe this latest activity will serve to attract further engineering, industrial processes and manufacturing businesses in engineering supply chains who need easy access to the equipment and expertise.”