ARA Europe, on behalf of Straits Real Estate Pte. Ltd. (“SRE”), a subsidiary of The Straits Trading Company Limited, has submitted 4no. Reserved Matters Planning Applications to Tewkesbury Borough Council to develop c. 350,000 sq ft of new industrial/warehouse space on the remaining vacant plots of land at the established Gloucester Business Park.
Following public consultation, ARA Europe has applied for detailed consent for Plots 1-5 on the 276-acre site, located at Junction 11A of the M5 motorway. Plot 6 is being targeted for a cafe use via a separate full planning application, to be submitted in due course.
The established business park, acquired by ARA Europe, on behalf of SRE, in December 2022 already includes 522,000 sq ft of fully let office and industrial space. Home to occupiers including those across the energy, cybertechnology, financial services, and healthcare sectors, with the tenant line-up including EDF Energy, Ecclesiastical Insurance, GE Aviation, and Lockheed Martin, Gloucester Business Park has a robust mix of office, industrial and logistics properties, supported by strong retail and commercial offerings in a thriving community.
The proposed development land has existing outline consent for employment use.
Edward Amery, Asset Management Director at ARA Europe, comments: “We have been working closely with our project team and stakeholders to propose the right development plans to continue Gloucester Business Park’s legacy as a thriving employment area in the region, and we look forward to taking our vision forward, building on the strength of the park.”
Gloucester Business Park is well connected to key transportation nodes with direct access from Junction 11A along the M5 Motorway linking Birmingham to the north, Bristol to the south, and London to the east via the A417 trunk line which leads to the M4 Motorway.
Alder King and CBRE are retained as letting agents for Gloucester Business Park. CBRE is advising as planning consultant.
Gloucester Business Park covers 276 acres and is situated to south east of Gloucester City Centre, adjacent to M5 motorway.
ARA Europe is asset manager for SRE, retained to run Gloucester Business Park, taking forward the future development of the scheme.