Steelpark secures latest tenant before unit is even finished
A multi-million pound trading estate development in the West Midlands has secured an occupier before its latest unit has reached completion.
The undisclosed occupier has signed a 10-year lease on a 10,000 sq ft unit at Steelpark Trading Estate in Wednesfield. The site is owned by Walsall-based Goold.
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, which manufacture rotary pneumatic actuators, had acquired a 7,754 sq ft unit at the site for an undisclosed sum. The unit will be used by its Powerite division, which supplies 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 Finance Birmingham and the West Midlands Combined Authority Collective Investment Fund. Units vary in size from 7,754 sq ft to 21,450 sq ft.
