Developer Robert Hitchins Ltd has leased a brand new industrial unit near Stroud to Loudspeaker Technology Ltd, a world-leading loudspeaker and electronics manufacturer, on a 10-year term.
Unit 1 is a 22,523 sq ft facility at the entrance to the new Stroudwater 13 development at Stonehouse. It is the last remaining unit in the current phase of Robert Hitchins’ £12 million employment development in the area.
Loudspeaker Technology Ltd was formed in 1974 by the late Billy Woodman, the father of current MD Will Woodman.
Based at Aston Down, it has a worldwide reputation for manufacturing high-performance loudspeakers and audio electronics for the music industry. Its products are installed in some of the world’s most prestigious multi-channel studios and auditoria and have been used by many superstar performers including Pink Floyd and Supertramp.
MD Will Woodman said: “We had been looking for a few years for a site to move our cabinet manufacture and warehousing to, and this proved the perfect opportunity due to its close proximity to our main site near Chalford.”
Senior Development Manager at Robert Hitchins, Mike Plimmer, was pleased to see Loudspeaker Technology commit to Stroudwater 13. “The letting of Unit 1 marks the end of the first phase of Robert Hitchins’ considerable investment in new industrial development in Stonehouse.
“We have been really pleased with the rapid take-up of the new industrial space that we have built to date and it’s particularly rewarding to play a role in supporting such a great local company with international reach, providing them with accommodation that is fit for purpose and helps them to stay local.”
The agents were Alder King and Cushman & Wakefield.
Adrian Rowley from Alder King said: “Unit 1 is terrific space and it’s good to see the new tenants moving in. What we have here is a high-quality, speculatively-built unit in a market starved of new stock. New opportunities like this are few and far between and we’re pleased to be able to help bring this deal to fruition.”
Stroudwater 13 forms part of the employment allocation for the wider Great Oldbury urban extension development at Stonehouse which also includes 1,300 homes, a primary school, local centre and extensive sports and community facilities.
It is close to J13 of the M5 and adjoins Stroudwater Business Park occupied by multinational companies including Renishaw, Schlumberger and Muller.
