Practical completion and final letting at Trebor Developments’ “The Ridge” Haverhill scheme
Trebor Developments have reached Practical Completion on the second, and final, phase at The Ridge Haverhill and have subsequently completed the final letting to TAIT Technologies Ltd. TAIT, who are a worldwide specialist in entertainment automation, stage and set manufacturing, have taken occupation of a 100,000 sq ft build to suit unit which includes manufacturing and logistics space as well as HQ offices.
Practical Completion on TAIT’s unit follows the completion and letting of two other units in Phase Two to Thule Group and a confidential manufacturer who have taken 22,670 and 47,468 sq ft respectively. Both units were developed speculatively but pre let during construction in mid-2022.
Phase 1 comprised units of 51,662 and 12,206 sq ft which completed in early 2021 and secured lettings to Comar and a confidential European logistics provider shortly after PC, having agreed terms whilst under construction.
All five units comprising a total of 233,175 sq ft are now completed and fully let, with terms and legals on all units agreed within the past 18 months. Furthermore, the scheme in its entirety has been sold as a fully let investment to a global investor as part of a wider global portfolio sale that included 5 UK assets.
Greg Dalton, Development Director for Trebor, commented: “We’re delighted to have achieved this final milestone having reached Practical Completion and letting the final unit. TAIT join a fantastic mix of regional and international occupiers on the scheme, and all their interest supports our commitment to invest in this location and create vital new space for local occupiers.”
Councillor Susan Glossop, Cabinet member for Growth, West Suffolk Council said: “We are pleased with how successful The Ridge Business Park has been; with all the units let it demonstrates the demand for business space in Haverhill. It is also excellent news that TAIT have chosen to further invest in Haverhill with their new facility. Investment from developers such as Trebor enables West Suffolk to continue to cater for growing companies within the area and attract new businesses too.”
Trebor Developments are represented by M1 Agency (London) and Bidwells.