£3.5m investment to boost commercial capacity in Worcestershire
The dire shortage of smaller industrial units in Redditch is set to be alleviated by a new £3.5m commercial development.
The proposed Crescent Trade Park at Moons Moat Drive is being spearheaded by Halesowen-based MacMullen Associates, which is acting a development manager for A & H Construction & Developments.
Building work on the new scheme is set to start next month but the scheme has already secured to leading tenants.
The 23,500 sq ft project, complete with 70 parking spaces, will have a prominent frontage to Moons Moat Drive and will comprise two retail units and up to ten industrial or trade counter units, each with internal heights designed to accommodate full mezzanine floors.
David MacMullen, director, said: “Moons Moat is already Redditch’s prime industrial location with another million square feet of employment space in planning.
“We are looking to get building immediately as Greggs, the largest bakery in the UK and Subway the takeaway franchise, have committed to lease the two 1,300 sq ft shop units.”
The two-acre site was acquired from HSH Coldstores, which found the land surplus to requirements.
Mr MacMullen said the local authority had also recognised the value of the scheme, allowing the food shops to operate from the site to help offset development costs.
Burley Browne represented HSH Cold Stores and Bromwich Hardy and KWB Industrial have been retained as agents for Crescent Trade Park.
KWB Industrial introduced the site to A & H and director Kenny Allen said: “We have been crying out for new, smaller units in Redditch. There is considerable pent-up demand locally and with units available from 1,485 sq ft up to 9,084 sq ft aimed at smaller companies in the industrial/warehouse and trade counter market, we have firms talking even before marketing has started.”
The scheme will contain units for lease but there are a number where freehold sales will be considered.
