National commercial property and construction consultancy Naismiths has been appointed to help deliver a new speculative development of industrial starter units for small businesses in Worcestershire.
Nasimiths has been instructed by Finance Birmingham to provide funder due diligence and project monitoring services on phase one of the new scheme by developers Chase Commercial at Finepoint, in the South Kidderminster Enterprise Park.
The site of the Ratio:Park development is a key employment and regeneration area for Wyre Forest District Council (WFDC). Ratio:Park is expected to bring hundreds of jobs and significant investment into the region when completed.
The enterprise zone was triggered when WFDC moved to new purpose-built council offices to the south of the town when Unit 2 of Finepoint was completed in 2008.
Stratford upon Avon based developer Chase Commercial acquired the site last year and drew up proposals for a business park with units from 967 sq ft to approximately 4,500 sq ft to provide workshops and light industrial warehouses. Phase one of the development includes 13 units of a total of 26 units earmarked to be built. Construction work is underway.
Marcus Higgins, director of Naismiths in Birmingham, said: “Ratio:Park is an exceptional example of companies and other organisations working in partnership to deliver a project that will bring investment and jobs to this area of Worcestershire. We are proud to be working alongside Chase Commercial, Finance Birmingham and the Growing Places Fund as fund and project monitors.”
Julian Meredith, director of Chase Commercial, said: “We have a long track record of delivering high quality, flexible unit sizes and tenure for small businesses that need a high quality location. This collaboration between Chase and Colonnade follows the successful delivery of a similar development in Evesham. Ratio:Park will further strengthen this relationship and will see us provide the kind of scheme that Kidderminster is in desperate need of.”
Finance Birmingham has arranged development finance to support the project through the Growing Places Fund, managed on behalf of the Greater Birmingham & Solihull Local Enterprise Partnership (GBSLEP).
Nick Oakley, senior investment director at Finance Birmingham, said: “Ratio:Park is a prime example of a site that will support the work of the local authority to deliver on employment and regeneration, as well as one that will encourage the growth of enterprise in the Kidderminster area. Finance Birmingham is delighted to be supporting Chase Commercial in the speculative development of this light industrial scheme.”
They have instructed Halls as sole agents to dispose of the series of spec-built high quality light industrial units, specifically to suit small businesses, which are in easy reach of the M5/M42 corridor. Completion is targeted for December this year, with units available on either a freehold or leasehold basis.
Naismiths is a niche consultancy offering specialist services and advice to the construction and real estate sectors. Established in 1963, Naismiths has evolved into the national multi-disciplinary, dynamic, independent consultancy it is today with offices in London, Birmingham, Bristol, Manchester, Leeds and Leicester. Its range of services includes funder due diligence, restructuring and recovery, expert witness and dispute resolution, capital allowances, building surveying, project management, development management, employer’s agent and cost management.
