Factory units at one of the last developments by the former Redditch Development Corporation are on the market through business property agents John Truslove.
The Colemeadow Road complex at North Moons Moat has been acquired by Eastburn Estates Limited, asset managed by M7 Real Estate LLP.
And, in something of a surprise move, vacant properties are being offered either to let or for sale.
“This is a rare opportunity in Redditch – many of the 1980s estates are never broken up and offered for sale,” said Ian Parker, a John Truslove partner.
Colemeadow Road has proved one of the most successful to have been developed by the RDC and units range in size from 500 sq ft to 13,500 sq ft.
The estate comprises 30 industrial warehouse units totalling 78,585 sq ft. They come in three main sizes – small, medium and large.
Unit 11, with an internal floor space totalling 551 sq ft, is available at an asking rent of £74 per week plus VAT or for sale with a purchase price of £59,000 plus VAT.
Unit 3 comprises a 5,766 sq ft internal area and is on offer at an annual rent of £25,950 plus VAT or £275,000 plus VAT if bought.
And Unit 10 has 11,606 sq ft, being marketed at an annual rent of £49,350 plus VAT or a sale price of £495,000 plus VAT.
London-based M7 Real Estate bought the estate in March for an undisclosed sum.
Jack Thoms, a partner in the group, said: “We made the acquisition with a view to putting individual units on the market. We feel a break-up will offer us greater returns by appealing to a boarder range of occupiers than were we to keep it together and focus solely on a leaseing programme.”
M7 focuses on the secondary multi-let industrial sector.
A fund and asset management company offering investors access to the industrial sector throughout the UK, the business manages a portfolio worth approximately £200 million and says it is actively seeking further acquisitions.
North Moons Moat is recognised as arguably the most prestigious of the industrial locations in Redditch.
It has attracted many nationally known companies such as AT&T Istel, Johnson Controls, UK-NSI Co Ltd and Kettler (GB) Ltd along with many well established local companies who value the combination of green field environment and extreme convenience.
Junction 3 of the M42 is four miles to the north via the A435, bringing the M40 interchange within 10 minutes drive and links to the M5, M6 and M69.
