Construction of two new major industrial parks in the Coventry area is underway

A £9.7m cash boost has been arranged for two major new industrial parks in Coventry and Warwickshire. The loan is from Warwickshire County Council’s Enterprise Property Investment Fund (PIF), managed by global property adviser, CBRE.

Warwickshire Connect Ltd, a subsidiary of The Wigley Group, has started construction to transform a 1.88 acre brownfield site on Endemere Road, Coventry. The project will deliver a purpose-built commercial hub after receiving full planning permission in 2023.

Warwickshire Connect Endemere will offer 20 units for sale, ranging in size from 1,000 to 3,000 sq ft, to help meet growing demand for retail space and benefit local small and medium-sized businesses (SMEs). Construction is expected to take 12 months, with the first units available for occupancy by the summer of 2025.

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This is the first loan from PIF, the real estate arm of the Warwickshire Investment Fund (WIF) which supports the provision of sites and spaces designed to help drive the growth of Warwickshire’s local economy. The PIF is managed by CBRE’s lending team.

The loan will also support a second development on the Warwickshire border on Rowley Drive, close to the UK Battery Industrialization Center and the new Coventry & Warwick Giga Park.

James Davies, Chief Executive Officer at Wigley, said: “We are incredibly excited to start construction and launch this development. This well-connected location will serve a strong demand for commercial space, in turn supporting Coventry and Warwickshire’s rapidly growing economy.