Business leaders have heralded the arrival of a new £5.5 million flexible business unit scheme in Warwick as an opportunity to support entrepreneurial growth in the region.

Space Business Centre Warwick, which has been developed by AC Lloyd Commercial on the final plot at the 132-acre Tachbrook Park, is already at 30 per cent occupancy, with business owners snapping up units, often, as their first official premises.

Cllr Andrew Day from Warwick District Council was joined by Warwickshire County Council's portfolio holder for economy Cllr Martin Watson and representatives from the Coventry and Warwickshire Growth Hub and Coventry City Council to tour the site, and offer advice to some of the entrepreneurs who have moved in.

The 35,000 sq ft site is comprised of 61 units ranging from 285 sq ft to 840 sq ft, with two facilities blocks containing a kitchen, toilets and shower room, as well as allocated parking, 12 electric car charging points, solar panels on some of the roofs and a cycle shelter.

Cllr Andrew Day said: "Space Warwick has huge potential to support a pipeline of new businesses by helping local business owners move out of their home and make the most of the business landscape here in Warwickshire.

"It is a fantastic venue to suit a range of purposes, and the initial reactions I've heard after speaking to some of the tenants have been very encouraging."

Cllr Martin Watson, portfolio holder for economy with Warwickshire County Council, said: "This comes around the time that we are launching the Property and Infrastructure Fund (the third strand of the Warwickshire Recovery and Investment Fund) and is a further demonstration of our commitment to supporting businesses to find suitable premises from which to prosper, and for successful business communities to thrive."

Gary Thyeson, operations manager at the CW Growth Hub, said: "At Space Warwick there is a great opportunity for people in the area to grow their business or start a new enterprise.

"The site is in an ideal location to create a thriving business community in the heart of Warwickshire, while the support available across the region will only help to increase that potential."

Tachbrook Park has been developed by AC Lloyd Commercial continuously over the last 30 years.

The Warwick-based property company also operates Space Business Centres in Gloucester and Cheltenham, which are regularly at capacity with an ever-changing roster of local-businesses.

Mark Edwards, managing director of AC Lloyd Commercial, said: "The initial reaction and interest in Space Warwick has been extremely promising, and there have already been lots of opportunities for collaboration and support.

"It was fantastic to take this opportunity to connect some of our first tenants with key figures from across the region, and we are looking forward to seeing the results of this entrepreneurial spirit in the coming months and years."

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