Work has begun to modernise Plymouth’s Eurotech Park business estate with large-scale demolition already underway.
Burrington Estates Ltd, which acquired the vast building in Burrington Way, Honicknowle, in late 2019 is planning to transform the former 1970s electronics factory block and replace it with 30 modern industrial business units.
The project was due to start in early 2020 but was, like many things, severely affected by the coronavirus pandemic and Government guidelines.
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But the scheme is very much continuing with the last tenants of the old building leaving in November 2020 and demolition work now well advanced.
It is now hoped the ambitious project can be completed by July 2021 – just three months later than originally scheduled.
The scheme will see 28 units of 1,000sq ft and two of 1,200sq ft created. They will be steel-framed with insulated panels, and have the flexibility to accommodate a mezzanine or half-mezzanine to almost double the floor space.
Burrington Estates is also planning the latest eco-friendly tech, including photovoltaic roof cells, fibre-optic broadband and electric-car charging points.
Interest was swift to arrive when the development was announced in February 2020, with six deposits received in just the first week after the company began marketing the space.
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With hunger for the units still high, a total of 19 have now been reserved with Burrington Estates now looking for businesses wanting to move into the remaining 11.
Burrington Estates has more than 15 exchanges to complete on Eurotech House by the end of January 2020, with the rest in early February,.
The range of clients varies from builders, tilers, and electricians, to major distributors of household products, marketing, and a couple of private investors who are looking to lease commercial property as the return on investment is “very inviting”.
It is expected the remaining units, which will come with their own parking spaces and a shared decked breakout space for socialising and meetings, will attract a range of light industrial manufacturers, tech firms and services.
And because 999-year leases are being sold, it means Burrington Estates is predicting investors, such as pension funds, will be enticed too.
Plus, there is a second phase at the development in planning too, with an ambitious proposal being worked on to revamp the front-end office block on the estate and potentially add another floor on top. That would increase the existing 5,000sq ft block to 7,500sq ft.
Richard Dixon, commercial sales manager, said there is a “massive shortage” of industrial units in Plymouth and added; “Since February 2020 we have had a pandemic which saw the project stall because of Government guidelines, but the need for commercial property and enquiries have never wavered.
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“When our last tenant vacated, in November, demolition started two days later with a target completion date of July 12, only putting the project back three months from the anticipated date of April 2021 We have 19 units reserved so we are releasing the remaining 11.”
Burrington Estates has also launched 30 new units at Exeter SkyPark, Mr Dixon said, and secured 28 reservations.
“It has taken the market by storm,” he said.
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Mr Dixon Commercial stressed the SME market is strong with more than 49 reservations made on units in the two sites and he said: “It proves people are planning for the future after Covid is quashed.
“We feel the owner-occupier market is growing with people either owning where they do business or buying through their pension fund, thus giving them flexibility of how to protect, or wisely reinvest, into their own company.”
The overall 40,000sq ft building was initially built for German tech firm Wandel and Goltermann in the 1970s and was later renamed Eurotech House and used by another electronics company: Patronics.
The building was bought by Plymouth property developers Mike and Nikki Trathen, and business partner Paul Scantlebury, for £2million in 2006. It was converted to work space for a wide selection of companies but suffered the closure of the Premier Foods’ bread distribution centre in 2013.
Burrington Estates, founded by Mr Scantlebury and Mark Edworthy, took on the site in November 2019. The company also owns The Ship office development, once the Plymouth home of the Western Morning News, and is redeveloping Stowford Mill, at Ivybridge, just outside Plymouth, and has a range of other commercial and residential interests.