Precise Investors

Tuesday, December 6, 2022
Latest News

Costa given free rent at Southend Airport Business Park

Southend Airport Business Park

The Airport Business Park is a joint venture between Southend Council and property developer HBD

Costa Coffee has been given a year’s free rent at Southend’s new £90 million ($113.28 million) Airport Business Park, it has been revealed.

Southend Council claims such arrangements are normal when firms face big fitting out costs, but Tories believe it illustrates a wider issue in attracting big business.

The Airport Business Park is a joint venture between Southend Council and property developer HBD.

Aircraft seating manufacturer Ipeco was the first commercial occupier, moving into a 124,000 sq ft purpose-built base in July 2020, but much of the park remains empty. The Costa drive-thru opened six months ago.

Tony Cox, leader of Southend Conservatives, said: I think this shows an inability to get big firms into Southend.

The business park is mostly empty. I think it’s part of a wider issue and its total ineptitude for getting enough businesses in, he said.

Ian Gilbert, Labour leader of Southend Council, denounced the Tories’ view, adding: I do not agree the council has an issue drawing in big firms.

The council does a very good job at encouraging investment into the town. We are progressing plans such as the Better Queensway development with the new homes, he said.

We also have big names such as Travelodge, Empire Cinema and Hollywood Bowl signed up for the new Seaways leisure development, he said.

Alan Richards, Southend Council’s interim executive director for growth and housing, said: The business park has already and will continue to create more local employment and provide opportunities for entrepreneurs, for local businesses to expand and for new businesses to invest. This is all vital in our Covid recovery.

He said: Costa is a great occupier to secure at the entrance to the business park and is trading well. As part of the lease negotiation, a 12-month rent free period was agreed.


The articles are for information purposes only and Precise Investors shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Precise Investors does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply