A technology business operating in the fast-growing sector of carbon fibre component manufacture is relocating to Peterborough in a move which sees it more than double the size of its existing commercial premises a decade after the company was established, confirms city property agent, Barker Storey Matthews.

Acting as the sole agent for an institutional pension fund, Barker Storey Matthews has let Unit E - a 1,053 sq m (11,326 sq ft), two storey, good quality, mid-terrace, industrial unit with offices - at Harrier Park, Orton Southgate to Codem Composites Ltd on a 10-year lease.

Codem Composites designs and manufactures composite tooling and components and serves clients in the motorsport and satellite communications sectors among other bespoke industries.

The company is moving to Harrier Park from its current base in Sawtry, Cambridgeshire - where it has been since 2009 - in order to meet its immediate need for additional commercial space as well as provide for further expansion in line with its business growth plans.

Kevin Doherty, Managing Director, Codem Composites Ltd, commented, “Approaching our tenth year of trading we have plans for the rapid expansion of our workforce.  With a current headcount of 30, we’re targeting to double our headcount in the next three years.

“Peterborough premises will help raise our profile and present us to a bigger pool of potential recruits, particularly apprentices, in whom we are investing heavily, as well as giving us excellent transport links for existing staff and our network of clients and suppliers.”

Julian Welch, who led Barker Storey Matthews’ agency on the property instruction from its Peterborough office, added, “This is an occupier operating in a premium sector of modern manufacture.

“Its move to Peterborough is a testament to the city’s contemporary industrial profile.  It also confirms such occupiers’ appetite for commercial premises here in seeing a presence in the city as enabling business growth.”

Codem Composites Ltd was advised in the transaction by Nera Accounting Ltd, based at Thorpe Wood, Peterborough.

For more information about industrial premises in Peterborough, contact Barker Storey Matthews in the city, tel 01733 897722 or see bsm.uk.com.