Birmingham firm to develop Leicester site - commercial mortgages

29 August 2008

In commercial mortgages news, Birmingham-based firm Stoford Developments has acquired planning permission to build a new site in the Midlands' 'golden triangle'.

It is aiming to develop 265,000 sq ft of warehouse and distribution space on the Fairway Business Park in Leicester.

Director Dan Gallagher said that they are already in discussions with potential occupiers that want to secure a pre-let agreement.

He added: "This investment will open up one of the last remaining prime distribution sites in Leicester to a prospective company looking to relocate to the hub of the UK motorway network."

The site is situated a mile from junction 21A of the M1 and benefits from a "skilled and highly available employment pool" according to the firm.

With a population of 280,000, Leicester is the biggest city in the East Midlands and the tenth largest in the UK, according to the city council.