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January 2009

Interest rate cuts will make it easier for businesses to buy at Westpark 26

The agents for Summerfield’s Westpark 26 site, Alder King, have welcomed the Bank of England’s latest interest rate cut, which saw the rates reduced to 1.5%. Interest rates are now at their lowest rate in the bank’s 315 year history and this will make it easier for businesses to buy new premises, through making finance cheaper to obtain.

Andrew Maynard, at Alder King commented: “Previously occupiers may have been reluctant to purchase property due to the high interest rates on loans, but this is an ideal time for occupiers to buy their properties, rather than rent.”

Westpark 26 is currently being built by Summerfield Developments (SW) Limtied and on completion will provide approximately 500,000 sq ft of office, industrial and warehouse facilities. The first units will be ready for occupation in the summer/autumn of 2009, but are available to purchase now through joint agent Alder King.

Glenn Chinnock, at Alder King said: “Local occupiers have already shown great interest in Westpark 26 and we currently have three deals in solicitors’ hands on the Enterprise Zone, together with a hotel and pub on the site. Following the recent interest rate cuts, we are expecting further deals to progress quickly.

“Westpark 26 poses a fantastic opportunity for occupiers to buy new high quality business space at an affordable price. The park is in an excellent business location, adjacent to the established Chelston Business Park, just ½ mile from Junction 26 of the M5.”

Alder King is joint agent on Westpark 26 with King Sturge and Greenslade Taylor Hunt.

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