National property consultancy Lambert Smith Hampton (LSH) has announced the successful conclusion of transactions totaling over 100,000 sq ft of industrial space at a popular estate in Worcestershire.
The flurry of deals follow a programme of investment and refurbishment at South Moons Moat Industrial Estate in Redditch and means just one unit remains vacant.
A packaging company, which already occupied two units, has taken a further refurbished unit that adjoins its existing premises. It will allow the company to expand without having to relocate. It now occupies 51,400 sq ft on the estate.
It follows 11 other deals totaling a further 62,584 sq ft. This has reduced the void on the estate from six units, totalling 42,000 sq ft, to a single unit of 5,232 sq ft, considerably improving the income profile of the estate where many of the leases were approaching expiry.
Cris Maxim, industrial and logistics director in LSH’s Birmingham office, said: “The refurbishment of the vacant units was undoubtedly a factor. Also, because there are few industrial units in Redditch of any quality of 15,000 sq ft or larger, we were able to offer combinations of units and targeted requirements of this size. This meant we were able to dispose of several units at a time and avoided the more competitive 5,000 to 10,000 sq ft size range.”
Redhill Manufacturing, one of the UK’s leading manufacturers of storage and handling equipment, has taken four units totaling 23,000 sq ft. Similarly, retail shop-fitting and leisure interiors company AMS has taken three units totaling 16,000 sq ft.
Cris added: “We are very pleased with the progress we have made and I would think this makes South Moons Moat one of the best performing multi let estates in Redditch in the last 12 months.”
The last remaining unit, of 5,232 sq ft, which is one of the best units on the estate, is immediately available. It has been refurbished to a high standard and occupies a prominent frontage position with forecourt parking and a separate service yard to the rear.
John Truslove acted jointly with LSH on the marketing of the vacant units. LSH is responsible for the management of the estate and project managed the refurbishment of the vacant units.