Darby Keye Property and GVA have successfully sold a 37,666 sqft industrial warehouse / production unit strategically located just off Junction 9 of the M42 at Coleshill Industrial Estate.
RS Fleet Installations have acquired the property to support their programme of growth which could see their workforce increase from 200 to 400 strong. Lea Hodson, MD of RS Installations explained “ We needed accessible, well connected warehouse accommodation that is well placed to service our national client base and facilitate growth. It was immediately apparent that this type of property is in very short supply, particularly the freehold variety. We wanted to own our premises and are pleased to have secured a building in this location “.
Chris Keye, Director at Darby Keye Property commented ‘ The marked improvement in business confidence across the region is having a significant impact on the take up of industrial property. Supply levels are very low and the availability of freehold options is almost non-existent. ‘
‘There is once again a strong desire from occupiers to own their property. However the lack of suitable options is constraining growth. We have just brought forward a 70,000 sqft, self contained warehouse in East Birmingham and it is available on a freehold or leasehold basis. It is situated within easy reach of the M6, the M42 and both JLR plants – accordingly, much interest is expected.’
The continued upswing in commercial property activity coupled with strong business sentiment is encouraging news for both the West Midlands and the wider economy. Yet landlords and tenants alike must remain pragmatic if they are to benefit from the improved market conditions.
Darby Keye Property and GVA acted jointly for the vendor. RS Fleet Installations acted for themselves.