A high specification warehouse is set to be speculatively built at Hartlebury Trading Estate to meet the ongoing strong demand for high quality industrial space within the West Midlands.
Schroders Capital UK Real Estate Fund (SCREF) has invested in the speculative construction of a 45,000 sq ft mixed-use scheme at Worcestershire’s largest commercial estate, following the success of similar projects nearby.
Hartlebury 45 will provide high specification warehouse and office space to be delivered to Net Zero Carbon in operation, as well as a 50m yard area and 61 car parking spaces for occupiers and visitors. Construction will begin in October 2023, and the warehouse is expected to be ready for occupation by summer 2024.
Rob Cosslett, Fund Manager at Schroders Capital, commented: “SCREF continues to see growing occupier demand for best-in-class industrial space in key UK regions, including within the West Midlands, with strong transport connections and high ESG credentials. We are capitalising on this demand by significantly expanding the industrial space offered at Hartlebury 45, with this newly approved development.”
Rupert Jeffries of Collingwood Rigby, asset managers for the Estate, said: “The demand for space at Hartlebury Trading Estate is consistently high, with the site currently experiencing minimal void.
“Last year we refurbished an industrial scheme to provide an additional 27,000 sq ft of commercial space across five units – all of which were swiftly let to local and regional businesses. This followed assistive devices developer ETAC taking occupation of a 30,000 sq ft built-to-suit distribution centre earlier in the year.
“Our intention is to further satisfy the demand for high specification solutions within the region with the development of Hartlebury 45, which will provide extensive parking and yard-space. This newly constructed space will benefit from the excellent connectivity and a secure business environment that we offer to all of our occupiers,” added Rupert.
Hartlebury 45 will include fully fitted office accommodation, a clear warehouse internal height of 10m, dock and level access doors, and a maximum floor loading of 50kN/m2. In-line with SCREF’s strong ESG ambitions, the new building will target Net Zero Carbon in operation, an EPC A rating and BREEAM ‘Excellent’ standard.
Hartlebury Trading Estate, which has been owned by Schroders Capital UK Real Estate Fund since 2013, is the leading business park in Worcestershire – benefitting from excellent access to the UK motorway network via its close proximity to the M5 and M42. The Estate currently houses 100 businesses in over 160 buildings, ranging from 500 sq ft to more than 100,000 sq ft in a fully landscaped environment that extends to over 200 acres.
Rupert added: “Opportunities of this size and specification within the region are few and far between, and with the unrelenting demand for high-quality industrial stock across Worcestershire and the West Midlands, we anticipate high enquiry levels around the chance to occupy a purpose-built hub at the heart of the UK motorway network.”
Occupiers at the Estate include DPD, TNT, Worcester County Council, Grafton Group, EDM Group, and Forest Garden.