Work is underway on five speculative industrial units at Hartlebury Trading Estate, as Schroder UK Real Estate Fund continues to respond to the demand for more commercial space in the Midlands.
Crossways, a suite of units of approximately 5,000 sq ft each, is being built at the 230-acre estate as it reported record low voids.
Rupert Jeffries, of managing agents Collingwood Rigby, said: “This year has seen us announce various new opportunities for Hartlebury, having achieved planning permission for the construction of both a 30,000 sq ft and a 45,000 sq ft facility on the site, but we were keen to supplement the few remaining warehouses on the estate with some smaller properties.
“Work is already underway on the five industrial units, the smallest of which has a floor plate of 4,936 sq ft, and the largest of 5,791 sq ft. The intention is that the buildings, which benefit from a prominent position at the estate, can be leased individually, or can be combined to create properties ranging from 10,000 to 27,000 sq ft.
“These high-quality units will have excellent yard provision and car parking facilities that include electric charging points, and each offer 20 Kn/m2 floor loading, a working height if 6.6m, security lighting and fully fitted offices. All new occupiers will benefit from the Estate’s secure business park environment with on-site security,” he said.
Charles D’Auncey of Harris Lamb, joint agents alongside Fisher German, added: “Hartlebury is currently at its lowest void level to date, with around two per cent of the total estate area available to occupiers, such is demand for quality warehousing in the region. Schroder UK Real Estate Fund (SREF) has recognised that and wanted to provide immediate access to additional opportunities at the site to fulfil that.
“The estate itself is sited in a prime Worcestershire location within easy reach of the UK motorway network via the M5 and M42. Such is the ongoing shortfall in warehousing throughout the area that we anticipate a swift take-up of these properties, which are anticipated to be completed in a matter of weeks.
Hartlebury Trading Estate is the leading business park in Worcestershire, and currently houses 90 businesses in 130 building ranging from 500 sq ft to more than 100,000 sq ft.
Occupiers at the Estate include TNT, FedEx,Worcester County Council, EDM Group and Forest Garden.