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Record month for Space Business Centres

A Gloucestershire business centre celebrated its most successful month since being taken over by a leading commercial development company.

Space Business Centres, which has sites in Cheltenham and Gloucester, completed a record 14 deals across both its sites last month despite the nationwide lockdown.

The business centres were acquired by property company AC Lloyd Commercial in 2019 in a deal worth more than £6 million.

In January, a total of 11 new tenants were welcomed to units across both sites and three existing tenants expanded to larger premises at Space Business Centres.

The site in Tewkesbury Road, Cheltenham, saw four deals completed, with the site featuring four separate buildings with a total of 56 units ranging in size from 275 sq ft to 774 sq ft.

The business centre at Olympus Park in Quedgeley, Gloucester, had 10 deals completed to occupy space within its 53 units, which range from 357 sq ft to 721 sq ft.

The new businesses range from sectors including hospitality, catering, construction services, manufacturing and technology.

Toni Willoughby, site manager at the Space Business Centres, said: “It has been a fantastic start to 2021 for us and we have been inundated with enquires since the turn of the year.

“We have found that many of the new businesses joining us stem from people who have spent their time in lockdown enhancing their skills in a certain trade, and have now decided to pursue what was once a hobby as a business venture.

“While it is always great to welcome new tenants, it’s a source of pride when we can help a business already with us to expand into large premises. We have a proven track record of working with small businesses to help them take that next step.

“Our flexible, easy in and easy out, contracts have proved hugely popular. It’s a challenging time for businesses currently and we only require a month-long commitment rather than a five-year lease which may be too big a commitment for a start-up business in the present climate.”

The Gloucester and Cheltenham sites are both now fully let  – with more than a 50 per cent increase in number of enquiries for units compared to January 2019.

Mark Edwards, managing director of AC Lloyd Commercial, added: “The Space Business Centres are our first investment in the Gloucestershire region and it’s great to see them continuing to go from strength to strength.

“The units are suitable for a variety of uses from office, workshop or short-term projects through to warehouse, storage or light industrial space.

“This makes the units very attractive to SMEs and provides the perfect first step for people looking to move their businesses out of their homes and into their first unit space, or for an established business wanting to expand without the commitment of a long-lease.”