RECORD LOW VACANCY LEVELS AT KINGS NORTON BUSINESS CENTRE
The largest business park in South Birmingham has reached record low vacancy levels, further fuelling fears about the critically low levels of industrial stock within the West Midlands.
Harris Lamb reports that Kings Norton Business Centre, which extends to 900,000 sq ft, is at its highest occupancy to date, with just four units remaining, all of which being under 3,000 sq ft.
Neil Slade, of the business’ Agency team, said: “KNBC has proved itself to be one of the most successful multi-let estates in Birmingham, and is in an ever-improving position.
“Over the past 12 months, we have overseen more than 30 deals at the park, including lettings to Topps Tiles, Damascena Coffee, BLOCC, Bell Plumbing and The Binding Site.
“The landlords of the centre have ensured high levels of occupation and tenant satisfaction by committing to an ongoing refurbishment and improvement programme, and as a result there are currently very few properties available at the site, and none over 3,000 sq ft,” he said
Howard Hill, of CBRE Asset Management, acting on behalf of estate owners Harbert European Real Estate Fund III said: “We are delighted that there has been so much demand to take on space at KNBC and that the centre continues to thrive.
“With so much concern around the lack of good quality industrial buildings within the region at present, we take our responsibility to ensure that the centre continues to offer a high specification solution to potential occupiers very seriously, and that commitment has paid off. We are fortunate to have some established brands operating from KNBC and we are confident that the few remaining units will soon be let to tenants keen to join them.”
Neil added: “This is just the latest centre within the region to be reaching capacity, if not becoming fully let.
“Within the last three months alone, Hartlebury Trading Estate in Worcestershire and Maybrook Business Park in Minworth have also reported record low voids, while Minworth Trade & Industrial Park, Kelvin Way Trading Estate in West Bromwich and Baker House Trading Estate in Lye have all reached full capacity.
Harris Lamb acts as joint agents for the site with Cushman & Wakefield.