A NEW ERA DAWNS FOR OLDBURY POINT AS HARRIS LAMB IS RETAINED TO SOURCE TENANTS FOR REVAMPED ESTATE
Harris Lamb has been retained by Tilstone Investments to market a 17-unit industrial scheme in Oldbury amid plans to restore the development to its former popularity.
Oldbury Point, located on Rood End Road, was purchased by Tilstone last month and work is about to commence on an extensive refurbishment programme, which will see void units on the estate revamped in order to attract new tenants.
Occupying a total area of approximately 100,000sqft, the units range from 5,000 sqft to 20,000 sqft.
Neil Slade, Director, said: “Oldbury Point has always been a very popular estate but will benefit from an injection of capital investment. Tilstone has recognised the potential for the site and following their purchase, are now investing into site-wide improvements.”
“Once complete, we are confident that the void properties will become an attractive proposition and that businesses will once again turn to the estate as a welcome solution to the shortage of suitable industrial premises within the Black Country,” he added.
The largest of the properties, at 20,000 sqft, is a rare standalone opportunity with a secure yard and Neil reported that even at an early stage of the marketing process, there has been a high level of interest from potential occupiers.
Harry Ingham, of Tilstone, said: “We are delighted to have had such an enthusiastic response to our planned regeneration of Oldbury Point and that our agents have already reported strong interest from prospective tenants ahead of our planned refurbishment.”
Paul Makin, Investment Partner at Tilstone, further added: “We recognised the site as a worthwhile investment and we are committed to restoring this estate to its full potential, thereby helping to further fulfil the on-going demand for industrial stock within the region.”
Harris Lamb has been instructed alongside joint agents Bulleys and Savills.
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