Developers are embarking on the next phase of an ambitious plan to transform a notorious eyesore into a thriving business park.
St Modwen Developments is about to submit a planning application to build an extra 46,000 sqft of office space in eight buildings at the former Sunblest bakery site in Woodingdean, Brighton.
The £10 million development is a response to increased demand for quality smaller-scale office spaces in Brighton and Hove, Simon Forest, of managing agents Oakley Property, said. The 9.5 acre site fell into disrepair and became a target for flytippers and arsonists after it was vacated by Allied Bakers in 1994.
It was bought by St Modwen in 1998 and has since undergone a radical transformation.
The £3.5 million first phase of the Woodingdean Business Park a 19,000 sqft office complex called Castle House was finished last year.
About three-quarters of the office space has been let to various local firms, including clinical suppliers Shermond International.
PS Property Consultants, which is relocating from Lewes, has taken a nine-year lease on 3,370 sqft of offices at an annual rent of £15.95 per sqft.
Building firm Rok has taken 3,350 sqft on a ten-year lease at a similar rent.
Phase two, a £2.5 million development of eight large industrial buildings on the site, was completed earlier this year and six of the units have been sold.
The biggest industrial take-up has been by Sabre Telecom, which has acquired 5,850 sqft. Brighton Trade Windows and Ultimate Hair Supplies have also bought units.
Mr Forest said: "The continued success of our Woodingdean scheme is encouraging and we are well advanced with plans for the third phase, which will be submitted for planning this month.
"We are responding to market forces and we have picked up on a demand for the smaller-type office units for small to medium-sized firms.
"Rather than rented, the offices will be sold on long, zero ground rent leases, which are virtually a freehold.
"People want to own rather than rent at the moment. One of the reasons why Woodingdean is so popular is because of parking.
"Workers there do not have to contend with the congestion and parking problems of the city centre.
"Many of the businesses operate throughout Sussex so it is a good base for them to get around."
Each of the eight units in phase three can be divided down into two self contained units with potential for up to 16 separate occupiers.
The fourth and final phase of the Woodingdean business park project is in the initial stages of planning. Mr Forest said it would be the biggest development on the site so far.
Tuesday, July 12, 2005
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