News

HPG STARTS STORTFORD DEVELOPMENT

November 2008

HPG Developments is wasting no time in embarking on another major industrial redevelopment project in the region.

Following the recent announcement to start the demolition process on 170,000 sq ft of redundant buildings previously occupied by office furniture manufacturer Project in Haverhill, HPG Developments has just demolished two redundant industrial units on its Raynham Road Industrial Estate in Bishops Stortford, in preparation for redevelopment.

The Howard Property Group has owned the Raynham Road site for 8 years and has now embarked on a major redevelopment programme for the Estate. Two industrial units totalling 13,600 sq ft have been demolished with plans submitted for two new replacement units to be built totalling 12,180 sq ft.

The site, which is currently occupied by 40 companies, is predominantly light industrial and is located on the outskirts of the town. The Estate supports a number of industries who occupy almost 100,000 sq ft of space. Companies include; Edmundson Electrical, Kuehne & Nagel, Ensinger and Rye Street Coachworks. HPG Developments is looking to further develop the site and build 8 more units totalling 40,500 sq ft in the future.

William Jewson, Development Director at HPG, comments: "The redevelopment is in line with our 2008 strategy to enhance and maximise our existing investments. We see the Raynham Road Estate as an important site for both local companies wanting to move or expand and new companies looking to relocate to the area. There is a relatively significant level of manufacturing industry in Bishops Stortford which creates a demand for industrial and warehousing units. The district seems to be prospering fairly well in the present economic climate with a good level of employment and businesses are trading pretty well. These new developments will hopefully create further employment opportunities for the town and the local community."