Illuma Park Industrial Estate Success
Illuma Park extends to 30,000 sq ft of high quality office and warehouse accommodation developed in three phases on the highly sought after Geldershall Road Industrial Estate in Loughborough. Its position just off J23 of the M1 and the quality of the project has made Illuma Park a really sought after base for local regional and national companies.
NG’s involvement dates back to 2005 when we acquired the site in an “off market” deal from under the noses of some of the regions larger developers. Having recognised the plots potential as the only undeveloped piece of land on the estate, NG purchased the site for JLM Estates who pressed on with the project.
They developed out in phases, the first being a 12,000 sq ft warehouse which we let to John Lewis ahead of its completion; the remaining phases comprised an impressive HQ office of some 10,000 sq ft now occupied exclusively by BOCM Pauls and a terrace of three self-contained offices of some 2,800 sq ft each.
JLM Estates invests on behalf of a private pension fund and undertakes its own property developments throughout the East Midlands. The company has an impressive track record of speculative development having built 30,000 sq ft of offices at Abbeyfield Court in Nottingham and a 26,000 sq ft warehouse in Bulwell.
- NG acquired the site in an off market deal.
- Working with JLM they produced a highly attractive and sought after Business Park that is enjoying high occupancy rates and rental growth.
- Pro-active asset and property management as well as first class market knowledge has ensured Illuma Park success.
- A programme has been put in place to create further rental growth throughout 2016.
Find Out More
Contact Sunny Landa at NG on 01159 588599 or Sunny@ng-cs.com for more information on our marketing and management services or follow NG on Twitter @NGChartSurv