A speculative industrial scheme providing an additional 27,000 sq ft of commercial space at Hartlebury Trading Estate has been fully let to three new occupiers as demand for quality industrial stock throughout Worcestershire remains high.
Schroders Capital UK Real Estate Fund (SCREF) announced the project, comprising of five brand-new units ranging from 4,936 sq ft to 5,791 sq ft, last Autumn in response to the demand for more commercial space in the Midlands, with construction on the buildings completing earlier this year.
All five properties are now let, with a trio of deals seeing automatic packaging system manufacturers Comcount Ltd, sports memorabilia specialists Firma Stella Ltd and traffic camera experts Redspeed International sign leases at the estate.
Rupert Jeffries, of Asset Managers for the estate Collingwood Rigby, said: “At 230 acres, Hartlebury Trading Estate is the largest commercial site in Worcestershire, and with the business park approaching capacity, we needed to take steps to deliver new solutions at the site to meet the continuing demand for high quality industrial stock throughout the Midlands.
“The suite of five units was designed so that they could be leased individually or combined to create larger warehouses of 10,000 to 27,000 sq ft, with each one benefitting from an extensive yard, car parking facilities with electric charging points, and offer 20 Kn/m2 floor loading, security lighting and fully fitted offices.
“From the moment we announced that construction was underway, we were deluged with enquiries, and we now have three new occupiers in situ at the park,” he added.
Comcount Ltd have taken on Units 117 A and B, with a combined floor plate of 11,115sq ft, on a ten-year lease, while Redspeed International Ltd have signed a 10-year lease on 117 D and E, with a floor plate of 11,102 sq ft. Firma Stella have signed a five-year lease on the remaining 5,594 sq ft Unit 117C.
Neil Slade of Harris Lamb, joint agents for the estate along with Fisher German, said: “Thanks to its location and reputation, Hartlebury Trading Estate is already reporting record occupancy rates, with just one per cent of the estate area being available to new occupiers at present.
“With SCREF having taken steps to address that, the specification of the new warehouses, combined with the estate’s secure business park environment, on-site security, and convenient proximity to the UK motorway network, attracted a great deal of interest, and they were quickly placed under offer with terms agreed,” he added.
Hartlebury Trading Estate is the leading business park in Worcestershire, and currently houses more than 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 Forest Garden.