HARRIS LAMB LETS PRIME BLACK COUNTRY INDUSTRIAL STOCK AS GOOLD ESTATES CONTINUES £1.2M WORKS PROGRAMME
Harris Lamb has been acting on behalf of Goold Estates to successfully let more than 58,000 sq ft of industrial and trade units at Redmill Snack Foods site in Wednesbury within just four of the business taking on the site.
Following an initial comprehensive refurbishment of 100,000 sq ft, four occupiers have already moved in and a further unit has just completed the legal process, giving the developer the confidence to continue with its planned £1.2m programme of works at the now rebranded Red Mill Trading Estate
Screwfix has taken on 5,300 sq ft at the site, and it is expected that the adjacent units will also be taken by other trade counter occupiers.
BJS Distribution, on behalf of The Cotswold Company, moved into their 40,000 sq ft unit in December as did Billsave Insulation who now occupy 5,000 sq ft. Amber Foods, part of the Two Sisters Group, are the latest occupier to sign up on a 5,000 sq ft unit. A mixture of 10-year and five-year leases were negotiated.
Tom Morley of Harris Lamb’s Agency team, said: “The developer has taken advantage of the distinct lack of quality refurbished stock in this area of the Black Country, identifying a gap in the market and acting swiftly to ensure the units were delivered in a refurbished state as soon as possible.
“By presenting the units in an ‘as new’ condition we have generated a great deal of interest from good quality tenants leading to successful transactions.”
Potential tenants are being offered units from 2,500 to 20,000 sq ft, each boasting new LED lighting, eaves heights of approximately 4m, level access loading door and three phase electricity supply.
This latest scheme builds upon Goold Estates’ growing reputation as a developer who is able to react quickly to secure opportunities, undertake works speculatively and provide a high quality product.