Fourth phase of £7m Stowmarket business park to get underway
- Credit: MERRIFIELDS
The fourth phase of a £7 million business park expected to create up to 100 jobs in Stowmarket is about to get underway.
The Atex Business Park project, off Gun Cotton Way, has successfully seen the construction of the majority of the project and now, after all of the phase three buildings have been either let or sold, the fourth stage is set to get underway.
The third phase of the development consisted of two units which have been let to Howdens and Toolstation.
The businesses are said to "compliment" leases already secured by Screwfix who opened earlier this year.
Construction on the fourth phase of the development which will consist of a block of eight small business unitsis now set to begin.
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It is hoped that the whole development will be finished in 2021.
Merrifields, who have been appointed managing agents for the park say they are pleased to start the final stage of development.
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Gordon Ellis, from the company who are also selling agents on behalf of developers Atex Developments, said: “We are very happy to have secured the letting and sales of all the units in the third phase of the development.
"It shows good demand for commercial space and establishes Atex Business Park as a new Trade Park location for Stowmarket."
Atex Business Park is a redevelopment of brownfield land close to junction 50 of the A14.
It was part-funded with £630,000 from New Anglia Local Enterprise Partnership's (LEP) Growing Places Fund.
This provides loan-funding to help kick-start and support development projects across Suffolk and Norfolk.
Chris Starkie, chief executive of New Anglia LEP, said: "I'm pleased to see this development progressing.
"Our Growing Places Fund aims to help create new jobs and boost businesses on sites which would not have been developed without our help, and that is exactly what we can see here in Stowmarket."
The scheme neighbours the 54-acre Stowmarket East site owned by Mid Suffolk District Council's subsidiary company Gateway 14 Ltd.
This is earmarked for a new business and logistics park of up to one million square feet of logistics, warehousing, advanced manufacturing and business space.
The Gateway 14 project has just completed the public consultation phase and plans are expected to be formally submitted by the end of 2020 or by early 2021.