Premium prices for industrial units reflect county wide shortage

Unit A Swallow Court, Saxon Business Park, Stoke Prior, Bromsgrove B60 4AD

Worcestershire commercial property consultancy and Chartered Surveyors GJS Dillon has sold two industrial units in Bromsgrove at premium prices, reflecting the present shortage of industrial property both in the town and throughout Worcestershire.

Acting on behalf of KSI Technologies Limited, Charlie Green, commercial negotiator at GJS Dillon, sold the freehold of Unit A, Swallow Court, Saxon Business Park, Stoke Prior, Bromsgrove, B60 4AD to Oakland BE Limited for £200,000.

Unit A is a 2,213 sq ft modern end terraced industrial/warehouse building with ground floor warehouse and office accommodation on the ground and first floor.

Oakland BE provides a comprehensive interior design co-ordination fit out and refurbishment service for commercial, industrial and healthcare buildings.  The company is relocating to Bromsgrove from Worcester.

Acting on behalf of a private client, Mrs Green has also sold the long leasehold of Unit 8, 33 Sugarbrook Road, Aston Fields Industrial Estate, Bromsgrove, B60 3DN, a 3,910 sq ft industrial unit, for £155,000 to County Infrastructure Service, a Droitwich Spa based company which provides a range of ICT services to schools in Worcestershire and the surrounding counties.

“Both these units were highly sought after with company directors seeking to purchase their own buildings to take advantage of the continuing low interest rates and the increasing willingness of the banks to lend,” says Mrs Green.

“There is a shortage of freehold industrial properties throughout the county at present, with prices for expected to reach a new record level later this year (2017).  This means there is a window of opportunity for freeholders to bring their industrial property to the market.

“While Bromsgrove is one of the most attractive business locations in Worcestershire, many businesses are prepared to relocate elsewhere in the county for the chance to purchase their own premises.”

According to Mrs Green, the on-going shortage of industrial property means than businesses looking for new premises are having to spend more time and money searching, and if they do identify a suitable building they often miss out.

She says: “Businesses cannot just look on-line, as by the time a property appears, it could already be too late.  We encourage anybody looking for industrial or office premises in Worcestershire to register their needs with us, then they will be at the front of the queue when we put a new building on the market.

“Businesses looking for industrial units of more than 10,000 sq ft, or offices of more than 5,000 sq ft can also use our specialist Business Relocation Service which will identify a business’s needs, space requirements and budgetary constraints and then search on and off the market for a property, as well as, if required, disposing of the old premises.”