The CP Holdings Group acquired land at Kingsbury, North Warwickshire from the National Coal Board by means of a conveyance in 1987. Extensive negotiations were undertaken with other landowners including North Warwickshire Borough Council and the Ministry of Defence to re-shape ownership boundaries and create a developable site. Waystone Limited acted on behalf of their parent company, CP Holdings, to implement the agreements, which also included negotiations with British Rail Property to secure an unfettered access over a former railway line.

Following the use as a colliery, the site had previously been allocated as a source of rock paste for the filling of limestone cavities in the West Midlands. However, the proposals for the combined development and restoration of the site benefited from the full support of North Warwickshire Borough Council and subsequently, the support of Government Office. Following the grant of planning consent, CP Holdings and Waystone Limited entered into a Joint Venture with North Warwickshire Borough Council and The Ministry of Defence. The Agreement between Waystone and the Council provided for the Council's consultancy expenses to be fully repaid along with a share of the proceeds from sale of the land.

The site was actually developed over a period of six years providing 500,000 sq ft of industrial and logistics facilities and generating in excess of 600 jobs.