A pioneering scheme to deliver new industrial starter units within Worcestershire has been welcomed by property consultancy Harris Lamb, which has been tasked with marketing the development.
Chase Commercial is one of the first developers to recognise the high demand for new, smaller units within the county and work is well underway on a project to meet it.
A total of 11 units, ranging from 900 sqft to 2,100 sqft are expected to be completed at Ratio Park in Kidderminster by this Spring, with a second phase offering units from 2,500 sqft to 10,000 sqft in the pipeline.
Neil Slade, of Harris Lamb’s Agency team, said: “This is a fantastic, much-needed scheme and we’re delighted that Chase Commercial has taken the initiative to step in and create the supply to meet the demand.
“For a year or more we have been lamenting the lack of quality stock across the region and calling for developers to step in and satisfy that pent-up demand. Rising build costs, stagnant rents and values have meant such projects have been difficult to get off the ground. However, now the local economy is back on the move, growing small businesses with an appetite for new accommodation have driven values to a viable level for development. Ratio Park is now leading this trend in the region.”
“The first phase of the scheme is well underway and on target for a Spring delivery, with steelwork up and full activity on site and we are confident that thanks to the units being both to buy and to let, Ratio Park is going to be a massive success. We are experiencing high levels of interest from potential buyers and one unit is sold subject to contract.”
Located on Fine Point Way with direct access to the main A451 Stourport Road, Ratio Park is adjacent to the Fine Point Business Park, a highly successful modern business park and home to a mix of commercial and office buildings.
Neil added: “These units will quell demand for smaller owner-occupier premises and it is expected the scheme will attract new and existing businesses, aid inward investment and generate a number of jobs, ensuring that Worcestershire continues as a thriving industrial hub.”
Harris Lamb is acting as joint agent alongside Fisher German.