Goold Estates to refurbish 18-acre distribution and industrial site in Wolverhampton

Goold Estates has revealed plans to refurbish an industrial and warehouse distribution park in Wolverhampton, which is available to let for the first time in more than 20 years.

The property investment and development company will rebrand and refurbish an 18-acre site at Spring Road in Ettingshall, which will be known as Waterway Business Park.

More than 405,000 sq ft of accommodation will be available to let, either in its entirety or as separate industrial/warehouse units, ranging in size from 51,000 – 154,000 sq ft.

The units will undergo refurbishment including redecoration, additional dock level loading doors, new PV solar panels, and new roofs where required. Goold Estates is also planning to install new entrance gates, electric car charging points and CCTV, while improving circulation space on the estate and creating self-contained, secure yards for each unit.

An existing 83,000 sq ft unit already benefits from being temperature controlled and currently contains VNA racking.

The scheme will target BREEAM ‘Very Good’ and the revamped units are expected to be available for occupation from October 2024.

Managing director of Goold Estates, Dominic Goold, said: “Waterway Business Park is an important employment site and we are committed to making a significant investment in modernising the estate to ensure it meets occupiers’ requirements and to create jobs in the local area.

“Units are well suited to warehouse, distribution and industrial use, and benefit from a first class location near the motorway network. Initial interest in the scheme is proving that there is significant demand for good quality, competitively priced warehouse space in the Wolverhampton area.”

David Willmer, principal industrial, sales and leasing at Avison Young, said: “We are delighted to be working with Goold Estates on this exciting opportunity. Our team is experiencing strong levels of enquiries for good quality warehousing/manufacturing accommodation in the area with limited stock currently available. Waterway Business Park will be ideally placed to satisfy this demand, offering high quality accommodation across a range of sizes in a well established location.”

Goold Estates purchased the Spring Road site in 2019 and it is currently let to a single tenant, a food distribution specialist, Great Bear Distribution.

The estate is prominently located on the A4126 Spring Road, less than three miles from Wolverhampton city centre. It is approximately 0.25 miles from the Birmingham New Road and Black Country Route dual carriageways and six miles from Jct 2 of the M5 and Jct 10 of the M6.

For enquiries, please contact the scheme’s retained agents, Bulleys and Avison Young.