TELFORD WAREHOUSES SOLD FOR £2 MILLION AS DEMAND FOR INDUSTRIAL PROPERTY REMAINS HIGH
Commercial agents at Harris Lamb have sold three Telford warehouses for more than £2 million as buyers look to snap up industrial stock within the area.
The business’s Agency team was instructed by fishing equipment retailer Preston Innovations Ltd to sell three industrial units close to the town centre, further to it taking on a bigger site in the area.
Becky Thomas, based at Harris Lamb’s Stoke office, said: “We dealt with Preston Innovations back in 2016 when the business was seeking a larger building in the same industrial quarter. We acquired a 45,000 sq ft warehouse at the popular Stafford Park 12 site, and having centralised its operations into the facility, the firm tasked us with selling three sites on its behalf; two at the Stafford Park 4 industrial estate and one at Highbridge Court, Stafford Park 1.
“There is a well-documented demand for industrial stock throughout the Midlands at present, and all three of the available buildings were modern, well-maintained and well-appointed with excellent UK access links courtesy of their proximity to the M54, meaning we experienced high levels of interest in the opportunities.
“The first, a 13,369 sq ft warehouse with office accommodation, a secure yard and communal parking, was purchased by an engineering company, Warmflow Ltd, while a private investor snapped up the second, a smaller 3,256 sq ft unit on the same estate.
“We have now completed on the sale of the third site – Unit 1 at Highbridge Court. Interest in the 28,702 sq ft warehouse was high, thanks to its prime central location, modern construction, loading access, two-storey offices and 25 parking spaces. The successful buyer, manufacturing and distribution firm Inductaflex, has taken it on in order to increase its UK production and grow its workforce.”
Russ Barnshaw, of Inductaflex, said: “We were really keen to take the Highbridge Court site in order to increase our UK manufacturing production.
“Previously, we have outsourced some of the processes involved in producing the aluminium bending machines we are known for, but we wanted to invest in research and development in the UK, thereby expanding our workforce and output.
“The new site, together with investment into new tools, cutting and coating equipment, will now enable us to create new jobs in Telford. We’re excited to be expanding the team here and bringing this complicated process into our own facility,” he said.
Inductaflex is creating up to 15 new jobs at the site.
Becky said that the combined value of the three sales was in excess of £2 million.
“We are delighted to have secured buyers for all three of these premises in a short space of time, further demonstrating the desire for industrial space in the area. The Midlands as a whole has been proving a particular hot-spot for businesses seeking central UK addresses and investors recognising that need and looking to capitalise on it.
Sara Oldham, Finance Director for Preston Innovations, said: “We are delighted with the all-round service that Harris Lamb have provided. The team overcame certain obstacles to sell the final site, and were able to give up-to-date insight about the call for properties of this specification. We were pleased with team’s professionalism and the efforts they went to in order to complete all three sales as quickly and efficiently as possible.”