Goold Estates have refurbished and let the whole 120,000 sq ft of industrial and trade units at the former Redmill Snack Foods site in Wednesbury within twelve months of buying the property. The estate was rebranded as Red Mill Trading Estate and has undergone a £1.2 million refurbishment programme.
The development has recently been completed and tenants secured for all of the units. Combat HVAC have most recently taken 26,000 sq ft whilst earlier in the summer lettings have concluded with Angel Remy taking 5,000 sq ft and RS Distribution 2,500 sq ft. Morgan Sindall Property Services have taken the 3,500 sq ft of office accommodation that was available.
Earlier in the year BJS Distribution took 17,000 sq ft in addition to the 40,000 sq ft unit they had already signed up for whilst Amber Food Machinery occupy 5,000 sq ft and Black Lake Kitchens took an additional unit to their existing showroom premises nearby.
Dominic Goold, Managing Director of Goold Estates, added: “The success of the scheme has been fantastic. We recognised the local shortage of available quality industrial and warehouse units locally and so reacted quickly when the opportunity arose. We started the speculative scheme immediately after the purchase, which included demolition works to open up the estate and a full refurbishment of the existing units.
Very early on, the lettings to BJS Distribution and Billsave Insulation gave us the confidence to do all the works in one phase whilst the deal with Screwfix endorsed our belief that with the main road frontage, some units would be attractive to trade counter occupiers. The strategic location near to the M6 was fully endorsed when Bolton Industrial Doors Group set up a new Midlands operation here.
We have also moved our maintenance team to one of the units due to its excellent central location”.
Goold Estates now have a significant portfolio of industrial and office premises across the West Midlands. Currently, in partnership with St Modwen, they are undertaking a £12 million retail and leisure development, The Quarter, in Walsall Town Centre.
Harris Lamb in Birmingham were the letting agents acting on behalf of Goold Estates at Red Mill Trading Estate.