A world-leading assistive devices developer has signed a pre-let agreement for a purpose-built 30,000 sq ft distribution facility at Schroder UK Real Estate Fund’s (SREF) Hartlebury Trading Estate.
ETAC, an established developer and provider of ergonomic assistive devices and patient handling equipment, has agreed a 15-year lease on Hartlebury 30; the biggest new-build project at Worcestershire’s largest commercial estate for two decades.
Construction commenced this week on 30,000 sq ft of warehouse and office space for the business in addition to extensive parking and yard space, with ETAC inviting 12-year-old Warwick Dumighan, a long-standing client of ETAC, to break ground on the project.
Currently based in Halesowen, ETAC was attracted to the Estate’s prime location, which combines a green environment with easy access to the UK motorway network, as well as the Estate-wide benefits of high power availability, excellent connectivity and first-class security.
Rupert Jeffries of Collingwood Rigby, asset managers for the Estate, said: “Built-to-suit opportunities of this scale are rare – there has been a very well-documented shortage of high-quality industrial stock across Worcestershire and the West Midlands as a whole for some years now, and we recognised that with the Estate reporting consistently low void levels year-on-year, and with interest levels showing no sign of abating, design-and-build opportunities were the key to satisfying the demand for property within the region.
“As such, we secured permission from Wychavon Council in 2018 for a purpose-built 30,000 sq ft facility. Discussions began with ETAC pre-Pandemic, but the inevitable hiatus resulting from Coronavirus restrictions being put in place meant that the deal took longer to agree than all parties would have hoped, with terms being agreed late last year.
“We are absolutely delighted to have broken ground on what is going to be a very important building at the Estate. We are confident that in its wake will come more design-and-build opportunities as businesses seek the chance to be involved in creating and constructing a purpose-built hub in the heart of the country.”
Jon Preater, CCO of ETAC, said: “We have a goal to provide our team with the very best working conditions. Quality, functionality and design are at the heart of our business mission and the new Hartlebury development delivers on all counts. Purpose built warehouse, office and training spaces space are complemented by easy walking access to local rail links and semi rural surroundings. This is a superb head office location for our UK operation.
“It was important to us to mark the start of this next step by involving Warwick, who uses many of our R82 and Convaid range of products for seating, mobility, bathing, walking and standing, and trials our products before launch. Warwick, his parents and carers give us valuable feedback about functionality, postural support and living with the products day to day, and with him being such a happy young man, we could think of nobody better to break ground on the scheme.”
Rob Cosslett, acting fund manager for Schroder UK Real Estate Fund (SREF), Schroders Capital, added: “The UK industrial sector continues to thrive as Covid-19 has not only fast-forwarded the growth of online retail, but has also prompted companies to review their supply chains and hold extra stocks of key items. As a result of this growing demand for space we are continuing to develop and refurbish our existing industrial assets, which includes the construction of Hartlebury 30.
“We have worked closely with ETAC on the designs for Hartlebury 30. It is key that we maintain our approach to active asset management across our UK portfolio to ensure our assets continue to meet the needs of current and new occupiers – this is central to our investment strategy and has borne fruit with this latest long-term letting to an ambitious and growing occupier.”
Duncan Bedhall, of joint agents Fisher German, added: “With the initial conversations with ETAC having begun 18 months ago, there is a real sense of achievement in work commencing on this long-anticipated opportunity.
“ETAC has chosen to relocate its successful operation from Halesowen to the Estate to capitalise on its first-class facilities, secure environment and superb location, with its 65 strong team expecting to take occupation in Spring 2022.”
Hartlebury Trading Estate is the leading business park in Worcestershire, offering excellent access links to the UK motorway network via its close proximity to the M5 and M42. The Estate currently houses 90 businesses in 130 building ranging from 500 sq ft to more than 100,000 sq ft in a fully landscaped environment that extends to over 230 acres.