24th May 2013
Elmbridge Court over 75% let as Nexus Fostering moves in
Property consultants Alder King, acting on behalf of Bridges Sustainable Property Fund and Ashbridge Developments Ltd, have helped deliver over 75% occupancy at Gloucester’s Elmbridge Court, which this year celebrates 75 years serving Gloucestershire’s business community.
Nexus Fostering is the latest in a string of businesses to sign up for space at Elmbridge Court, a thriving business location less than a mile from J11 of the M5, whose roots stretch back to the 1930s when the park was originally built as Government offices.
Nexus, a well-established national fostering agency, has signed a five year lease with Bridges for Unit A5 and relocated this spring from Lansdown Industrial Estate.
The move will provide the team with larger, accessible premises from which to manage fostering placements across the South West.
The organisation will occupy 1,725 sq ft of fully refurbished space at Elmbridge which has seen a raft of improvements in recent years improving its energy efficiency and reducing costs for tenants.
Julian Meredith of Ashbridge Developments said: “We take a proactive approach to reducing running costs for the occupiers and have introduced a number of innovations at Elmbridge. Last year we invested in solar photovoltaic panels on all 25 buildings at the park. This provides both existing and new tenants with a percentage of free electricity, lowering the carbon emissions from the site by approximately 60%.
“We are absolutely convinced that this positive approach has paid dividends and is helping deliver an ever-increasing occupancy level.”
The Bridges Sustainable Property Fund which acquired the 44,000sq ft business park in 2011, is an entrepreneurial property fund that invests in properties in regeneration areas and environmentally sustainable buildings. It seeks to make property investments that have the potential to make strong financial returns as well as delivering social and environmental impact.
Elmbridge Court has a long and distinguished history. First built in 1938, the site was home to a variety of Government departments, most recently to HM Customs and Excise until 1990. In 2006, it was sub-divided and refurbished to provide the high quality, low density out of town scheme that exists today.
Current owners Bridges has invested further in the park’s on-going development, with the aim of improving the environmental and sustainable credentials of the scheme.
Adrian Rowley, partner at Alder King’s Gloucester office, said: “The Elmbridge Court scheme represents an excellent example of practical sustainable development providing flexible business space for today’s market.
“Units are light and airy with open plan accommodation and sit in an extensive and attractive landscaped environment whilst offering very access into both Cheltenham and Gloucester.”
Elmbridge is home to a varied mix of businesses. Occupiers include the systems and engineering technology provider Frazer-Nash Consultancy, social care provider Aspirations, and structural engineering practice Simpson Associates.
Of the 25 units at Elmbridge Court, just six remain available with three under offer, ranging in size from 1,094 sq ft to 3,070 sq ft. Alder King and Nick Bevan are the joint letting agents on the scheme.