RECORD LOW VACANCY LEVELS AT HARTLEBURY TRADING ESTATE ILLUSTRATE MIDLANDS INDUSTRIAL STOCK SHORTAGE
The largest commercial estate in Worcestershire has reached record low vacancy levels, a further reflection on the ongoing stock shortage within the region.
Harris Lamb reports that the Hartlebury Trading Estate, which extends to 1,800,000 sqft and set in a 200 acre parkland campus, is at its highest occupancy to date, with almost 750,000 sqft being let or renewed in recent years.
Neil Slade, of the business’ Agency team, said: “The last year has seen a high volume of individual buildings let and renewed at the site, including Apex Supply Chain who took on a 40,000 sq ft unit within weeks of the it being made available off headline rent.
“Demand for high quality, modern industrial properties within the region continues to outstrip supply, and the fact that an estate of this size is approaching capacity is a clear illustration as to how critical the situation is,” he added.
He explained that the landlords of the estate have invested millions into an ongoing refurbishment programme to provide improvements to the buildings and ensure the site meets with occupiers’ requirements.
“There are presently very few properties available at the site, however as a result of increased investment from the owners of the estate, along with ourselves, asset managers Collingwood Rigby, and joint agents Fisher German constantly looking to identify new asset management opportunities, a number of redeveloped and new build units are under consideration.
“The intention is provide additional accommodation at the site varying from 30,000 to 100,000 sq ft,” he said.