A new pre let agreement has been reached on a new development at Westcott Venture Park today (February 1).
Garden room company, Green Retreats, has committed to a 10-year lease at the 7.5 acre site near Aylesbury.
Owner, PATRIZIA Hanover Property Unit Trust achieved planning permission from Bucks Council in November 2021 for a new 120,000 square foot development of a Grade A factory and production space.
The development known as Building 6000 will include a first phase of 65,000 square foot of accommodation with Green Retreats.
Construction on the first phase of development started in January 2022 with completion set for July.
PATRIZIA Hanover Property Unit Trust will invest approximately £6 million in this development and Green Retreats will invest a further £1 million which will create a further 250 jobs.
Green Retreats hopes to increase its number of employees from 330 to 580 once the development is complete.
Its projections suggest company turnover could increase from £35 million to £55 million.
Green Retreats managing director, Roy Wetherall said: “We have enjoyed significant growth and our new facility will provide us with the space to expand in order to realise our full potential. Our company is now in great shape to exploit significant market opportunities this year and beyond.
“One of the reasons we chose to base the business at Westcott was because of the room for expansion, we have expanded three or four times and each time the Park has been able to accommodate our growth.
“It’s also a highly secure site and our customers enjoy the experience of coming to Westcott to visit our showroom. As a carbon neutral business, we value the benefits of the solar park and we work with many service businesses on the Park. We feel good about the future and being part of the Westcott family of companies.”
Westcott Venture Park is now home to over 80 businesses.
Rod Mordey, asset manager at Westcott Venture Park said: “This is a major development for us at Westcott which has allowed Green Retreats to remain at the Park.
"The expansion of Green Retreats is truly impressive, and we are delighted to have been able to accommodate their ongoing growth.
“We continue with our ambitious development plans, investing in the Park’s future in order to retain and attract more businesses to this thriving community.”