Deeley proposes £6m Leamington development

A proposed £6 million development at Queensway in Leamington could attract 16 businesses and more than 150 new jobs to the town.

Deeley Properties, which is based in Coventry and has completed several successful projects in the area, has tied up with supermarket chain Aldi which plans to build a new 1,640 sq m foodstore on the former Al-Ko Kober site.

As part of the development Deeley is planning to create a trade and commercial park on the remaining 2.75 acres and is already attracting “strong interest” from potential tenants.

Pat Moroney, a director of Deeley Properties, said the scheme, which could feature 16 units, had been designed to attract of a mix of users.

“We are submitting a joint application with Aldi for the site and we believe the development will very much fill a gap in the local market.

“We have developed similar schemes very successfully around the country and all have not only traded well but have been a valuable addition to their local economies.

“The companies which have bought units cover a wide range of sectors. We have tyre and tile firms, an importer of coffee machines and even the company which makes talking books of the Harry Potter series.

“We have been very encouraged by the strong interest shown in the scheme already and we have had a mix of local companies and firms new to the town interested in taking up space.”

Moroney confirmed that one of those interested firms is keen to create a motorcycle dealership on the site.

Leamington-based commercial property agents Wareing & Co have been acting for Deeley on the site.

Bill Wareing said that the joint application was key to regenerating the site.

“There have been very few – if any – new speculatively built industrial developments in the Warwickshire area for the best part of a decade. This scheme would not be viable in the current market if it was not in tandem with the store and it is key that we maintain a pipeline of industrial and commercial space for when the recession ends.

“We have worked with Deeley on a number of projects, some quite similar to the proposed scheme, and they will deliver something of real worth to the area.”

Picture caption: A exisiting, successful Deeley development in Buckingham