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Bulleys brokers Costa’s arrival at The Gateway

Commercial property specialists Bulleys are full of beans following Costa Coffee’s arrival at a major site off the M54 near Wolverhampton.

The chartered surveyors, who have been marketing three acre The Gateway, near Junction 2, first secured a Porsche dealership, leased to Pendragon Group, for the Stafford Road complex.

Now the firm is savouring this second letting – raising a glass to a newly-opened Costa Coffee Drive Thru.

That leaves just under 0.6 acres remaining, representing a further 4,000 sq ft of restaurant/retail/leisure/office accommodation.

Noel Muscutt, partner at Bulleys, which has offices in Wolverhampton, Oldbury and Telford, said: “It is a prime location, highly visible, with excellent communications and close by Jaguar Land Rover’s engine factory at i54.

“The Porsche scheme was granted planning consent in an exceptionally fast period of six weeks, reflecting the excellent support given by Wolverhampton Council for this prestigious development. Pendragon took a 15-year lease on a unit of circa 30,000 sq ft.

“Off the back of this deal Costa showed interest in the site which culminated in a successful letting, again for a period of 15 years, on an 1,800 sq ft Drive Thru unit with ancillary car parking and accommodation.”

The owner/developer, ASK Developments, intends to retain the two buildings which they have constructed on behalf of the occupiers as investment properties. Trebor Developments acted in a development consultancy role assisting in the construction of both.

Mr Muscutt, who negotiated both deals, went on: “It is excellent to see two household names taking occupation of The Gateway site which is a testament to its high-profile location. This part of the M54 corridor is now very active.

“We are currently promoting the final element of the site and are very hopeful it will prove equally appealing.”

Nearby amenities include a pub/restaurant with hotel, health & fitness centre, and local shopping.