Tournament Fields speculatively built 19,000sq ft unit sold to local charity

[Left to Right: Paul Shanley – Consultant – Clowes Developments, Nicholas Evans – Letting agent – EHB Reeves, Bill Wareing – Agent – Wareing & Company]

Clowes Developments has sold the 19,000sq ft property at Tournament Fields to Elizabeth Creak Charitable Trust.

The Warwickshire born and bred charitable trust have purchased the standalone commercial unit and are marketing the property for lease through local agents EHB Reeves.

The Elizabeth Creak Charitable Trust is an established local charity which was set up in 2013 to provide ‘Clyde Higgs Scholarships’ in agriculture to support and encourage new blood into the farming community. The Trust finances projects to enable farmers survive and ultimately thrive in their challenging modern environment.

The Warwick based Trust chose to invest in a commercial property known as TF19 at Tournament Fields due to its locality, south-west of Warwick town centre, it’s reputation as an established and thriving business park with excellent connections to Junction 15 of the M40 motorway and direct access to the Midlands motorway network. It comes as no surprise that the business park, owned by Clowes and developed out by Paul Shanley, Director at Clowes Developments, has attracted a mixture of global and regional occupiers. Semcon, Geberit, GFA, 3P Innovation, Gallagher, Manx Healthcare and Scholastic have all moved to the park in recent years and some have made it their UK headquarters.

The speculatively built 19,000sq ft standalone warehouse with ground floor, air-conditioned office accommodation and welfare amenities, two loading bays and a secure, private yard.  TF19 was constructed unilaterally with the neighbouring 28,000sq ft unit, which was pre-sold to Manx Pharmaceuticals Limited. Manx Healthcare are on site and completing their fit-out requirements. Thanks to the outstanding work of construction contractor Benniman, both units were completed on time and on budget, taking approximately 7 months to build from the ground up.

Wareing & Company acted as the selling agents on behalf of Clowes Developments, Bill Wareing commented on the deal,

I was delighted with the foresight of Clowes Developments to build the unit speculatively and it was sold during construction to a local charity.  This underlies the strength of the industrial & distribution market in the upper M40 corridor.

Paul Shanley, Consultant at Clowes Developments added,

We have a number of developments either underway or at the early inception stage at Tournament Fields. It’s great to see momentum and interest is still flowing strong at this world class business park. We look forward to welcoming the new occupiers in due course.

Clowes Developments are currently finalising the legal requirements on a pre-let 30,000sq ft unit on Plot 1003 with a formal announcement to follow. Once the deal is over the line, a 5-acre frontage site, known as Plot 1000 will be built on an all-enquiries basis. Interested parties are invited to contact Tournament Fields agents, Ranjit Gill of Savills via [email protected] or Bill Wareing of Wareing & Company via [email protected].