A multi-million pound trading estate development in the West Midlands has secured an occupier before the unit has reached completion, commercial property company Goold Estates has announced.
The undisclosed occupier has signed a 10-year lease on a 10,000 sq ft unit at Steelpark Trading Estate in Wednesfield, Wolverhampton.
It is the latest deal to be announced at the trading estate, a 70,000 sq ft speculative development of six industrial units on a 4.5-acre site. It is expected to generate dozens of jobs in the area.
Late last year, it was announced that Kinetrol Ltd, manufacturers of rotary pneumatic actuators, had acquired a 7,754 sq ft unit at Steelpark, for an undisclosed sum, to be used by its Powerite division, suppliers of valves, actuators and actuated valve assemblies.
Dominic Goold, director of Midlands-based Goold Estates, said: “This is a high quality development, which has attracted a lot of interest from potential occupiers.
“The latest deal we have agreed highlights the potential that this development offers. It is in an excellent location with great transport connections so we were confident there would be strong demand in the market for the units.”
The Steelpark Trading Estate gained speculative development finance through Finace Birmingham and the West Midlands Combined Authority Collective Investment Fund. It provides access to the motorway network, being just 4.6 miles west of J10 M6 and four miles south of J1 M54. Units vary in size from 7,754 sq ft to 21,450 sq ft.