Construction on five speculative, industrial units at Hartlebury Trading Estate has completed, providing an additional 27,000 sq ft of commercial space at the site.
Schroder Capital UK Real Estate Fund (SCREF) announced the project, which comprises of five units of approximately 5,000 sq ft each, last Autumn in response to the demand for more commercial space in the Midlands.
Rupert Jeffries, of asset manager Collingwood Rigby, said: “At 230 acres, Hartlebury Trading Estate is the largest commercial site in Worcestershire, and such is the demand for industrial space at present, we are experiencing record low void levels.
“The shortfall of suitable stock throughout the region has been a cause of concern for many months, and with less than two per cent of the estate area available to new occupiers at present, we were keen to deliver new solutions at the site to meet that need.
“Construction on the new Crossways development has now completed, providing up to 27,000 sq ft of high-quality industrial space at the estate and new tenants secured set to take occupation next month,” he added.
The suite of five units ranges from 4,936 sq ft to 5,791 sq ft, and have been designed so that they can be leased individually or combined to create larger warehouses of 10,000 to 27,000 sq ft.
Each warehouse benefits from an extensive yard, car parking facilities with electric charging points, and offer 20 Kn/m2 floor loading, a working height if 6.6m, security lighting and fully fitted offices.
Charles D’Auncey of Harris Lamb, agents for the estate along with Fisher German, said: “Demand for quality industrial stock throughout the region continues to outstrip supply, and there has been a high demand for these opportunities, given the calibre of the buildings and the location and reputation of Hartlebury Trading Estate itself.
“The Estate’s secure business park environment, on-site security, and convenient proximity to the UK motorway network via the M5 and M42 has attracted a lot of interest and we have four of the five units under offer to two occupiers prior to completion of the build, illustrating the quality of the scheme and the high demand for the Hartlebury Estate as a location, and leaving just one unit available amounting to 5,460 sq ft.”
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 DPD , FedEx, Worcester County Council and EDM Group.
