Evenacre, advised by GBR Phoenix Beard, has purchased Washford Industrial Estate in Redditch from M&G for an undisclosed sum. The industrial estate is made up of 12 units totalling 55,000 square feet and was constructed in the 1970’s.
Paul Jones of Evenacre is looking forward to the next phase of Washford’s development:
“This purchase made a lot of sense as demand for well-appointed industrial units is rising, driven largely by the resurgence of the Midlands’ manufacturing fortunes. Washford is a highly desirable location with excellent access to the OEM and supply chain automotive markets and a good pool of people available to work in this area. We are planning a major investment programme in the site and are looking to release the refurbished units later this year”
Christian Smith and Tom Edgar of GBR Phoenix Beard advised Evenacre on the purchase:
“The investment potential in areas like Redditch which border the M42 corridor is immense. Evenacre has made a sound move. We are experiencing increasing demand for industrial units alongside a decline in available stock in the town, which means schemes like Washford are proving popular with expanding companies.”
Plans to transform Washford Industrial Estate will commence shortly, on the units which range from 4,000 to 6,000 square feet. Evenacre have indicated that they will be prepared to sell individual units to owner-occupiers. All units come fitted out to the highest standard ready for immediate occupation. The units benefit from separate office space, WC facilities and roller shutter access to a large, shared secure yard area. GBR Phoenix Beard and KGA are letting agents at the site.