Firms from around the 海角视频 have been rushing to show interest into moving into an enormous former tile factory in Devon as soon as it is redeveloped.
Property consultancy JLL, which is marketing the ex-British Ceramic Tile Factory near Newton Abbot, said it has been inundated with enquiries since announcing on September 24 it had been bought out of administration by a partnership of three international property developers.
They plan to transform the 400,000sq ft building in 17 acres of land, valued at about £12.75million, into a major base for expanding manufacturing or logistics businesses.
And JLL’s Tim Western said the property was being eyed by businesses from Plymouth to Taunton, including some already on the doorstep in Newton Abbot and Torbay, because it the quality of the site, its proximity to the A38 artery, and because it already has a power supply.
And “national” firms from further away, including Bristol, have been inquiring about the site, seen as strategically important, being between Plymouth and Exeter, near to Torbay, which also has a large population, and an opportunity for a business wanting to make inroads into the South West.
“It’s off to a good start,” Mr Western said. “We have had some good interest from manufacturers and distributors. Some are national companies currently distributing out of Bristol and looking to get further into the South West.”
The vast factory has been vacant since BCT collapsed owing £19.8million in January 2019. Mr Western said efforts were made to find another tile maker to move straight in, but that proved fruitless.
JLL was instructed by BCT administrators FRP Advisory to dispose of the property so now the building will be split up and redeveloped, having been acquired by a partnership of Middlefield Developments, Oxenwood Real Estate and Mulberry Developments.
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“We tried to find a tile manufacturer but when that was not the case it was good to find someone to break up the space,” Mr Western said.
He said the three firms now involved have “serious fire power” and include two, Oxenwood and Mulberry, who are new to the South West.
“They are bringing in fresh ideas and capital,” he said. “This is a multi-million pound project.”
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He said breaking the vast pile up into “what employers need” is a good move, with firms nowadays looking to build environments that will help attract and retain workers.
“If you have the right property you can get better productivity and staff retention,” he said. “A lot of facilities we have here in the South West are very 1960s and 1970s, but the buildings that have been refurbished have gone really well.
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“So the reconfiguring and refurbishment of BCT could definitely work.”
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BCT, which had employed 386 staff at the factory near Newton Abbot, went out of business bemoaning international competition, rising costs and skills shortages.
Its collapsed left more than 350 creditors out of pocket. Among those owed the most was Devon firm Gregory Distribution, which was £2.6million short. HMRC was owed £1.8million in tax and Sibelco, which supplied clay from Preston Manor Works in Kingsteignton, lost £147,000.