Business leader welcomes £20million GKN Telford deal

GKN’s 110-acre Hadley Castle Works site has been snapped up by Midlands-focused real estate investor and asset manager Mercia Real Estate (MRE).

MRE says it is planning to plough more than £60 million into the 35 acres of employment land.

Richard Sheehan, chief executive of pro-business champions Shropshire Chamber of Commerce, said the move is vital to keeping the "Shropshire pound in Shropshire" and should be welcomed. It has a wider regional significance too.

"If you look back on the history of Telford, it was build on inward investment," said Mr Sheehan. The Chamber focuses on training, export licences, business events, and lobbying on behalf of its members.

"It's clear that as we move forward the development of eco-friendly business parks is going to be critical, as prospective employees choose where they work."

He added: "The opportunity to create employment facilities that are state of the art is to be welcomed."

Mr Sheehan said every day of the week, people travel out of the county to work in other parts of the region and beyond. They might even work from home for companies based out of Shropshire.

"Any steps we can take to retain the Shropshire Pound in Shropshire ought to be welcomed."

"Anything we can do to improve the retention of talent is vitally important."

MRE who acquired the site from Melrose now have a site with 1.5million sq ft of buildings in addition to about 35 acres of employment land providing the opportunity for in excess of 650,000 sq ft of new build industrial accommodation.

Hadley Castle Works is a significant and well-known industrial complex, half of the built accommodation is occupied by Mooveero – formerly part of GKN – which has been present on the site since 1905.

Samuel Clark, the chief executive of MRE said the company is delighted with snapping up the "strategic employment site" in an established industrial location.

He said: "And we are committing to invest over £60 million into the site to attract new employers and provide for existing businesses looking to expand in Telford."

He added: “We will be working very closely with Moveero to ensure that this site can be a home for them as they enter their next phase of growth and also working with Telford & Wrekin Council, along with the local community and its representatives to regenerate and develop the site.

"Hadley Park will be the most significant new employment opportunity to be brought forward in Telford in recent memory, providing a variety of modern institutional grade distribution warehousing alongside starter units for small businesses."

Telford & Wrekin Council has been asked for a comment. They will have a say, through the planning process, on any developments that take place at Hadley Castle Works.