Work is under way on the first phase of Stepnell Park, an £8m development of big sheds on 10 acres of land owned by Stepnell on Lawford Road, a mile to the west of Rugby town centre.
The redevelopment will also enable the 151-year-old family-owned firm, which has been headquartered at the Lawford Road location since 1965, to build new head office premises. Stepnell currently has more than 100 people operating out of Rugby.
Ten new industrial, warehouse or trade counter buildings, ranging in size from around 5,000 to 26,500 sq ft are taking shape in the first phase of work, which will deliver around 85,000 sq ft of space in total. Roof mounted photovoltaic panels will generate nearly half the energy requirements of site.
“Our team is making excellent progress on site at Stepnell Park with the steel frame for two of the buildings now in place and construction in progress on the remaining buildings,” said Stepnell property director Edward Wakeford.
“With commercial and industrial space suitable for small- to medium-sized enterprises in short supply locally, we’re receiving significant interest in these modern, high-specification units at this prominent location. Our construction programme is on track for the first units to be completed ready for occupation from early autumn 2019.
“This development showcases Stepnell’s ability to offer a complete development service through our construction team working alongside our in-house property and development team. We are able to deliver schemes from the planning stages through to practical completion on site, and subsequently manage the development and its tenants.”
Stepnell is set to submit a reserved matters planning application for phases 2 and 3 of the Stepnell Park development programme later this year. This will include further industrial and commercial space as well as office, plant and joinery facilities for Stepnell’s own use.
Stepnell reported turnover up 15% for 2018 and pre-tax profit of nearly £2.1m.