Plans announced for 45,000 sq ft office and warehouse facility

Schroder UK Real Estate Fund (SREF) has announced that plans are in place for a 45,000 sq ft new build opportunity at Hartlebury Trading Estate in Worcestershire.

Hartlebury 45 will provide high specification warehouse and office space at Worcestershire’s largest commercial estate, as well as a 538 sq ft yard area and 61 car parking spaces.

Having secured permission for the building and cleared a site on the estate for its construction, occupiers wanting to establish themselves at the business park can now fast-track the build project and could be operational in around 12 months.

SREF recently announced that world-leading assistive devices developer ETAC had signed a pre-let agreement for a purpose-built 30,000 sq ft distribution facility at Hartlebury Trading Estate, while a trio of lettings at units 16a, 71 and 334 were all completed within weeks of going to the market.

Rob Cosslett, acting fund manager for SREF, Schroders Capital, said: “Demand for industrial space across the UK continues to grow as Covid-19 fast-forwards the growth of online retail and prompts companies to review their supply chains and hold extra stocks of key items. To help cater for this demand, SREF continues to seek opportunities to grow its industrial presence and this includes expanding facilities at our existing assets. Hartlebury 45 presents us with an opportunity within our portfolio to provide high quality warehouse and office for our occupiers.

“It is key that we maintain our approach to active asset management across our UK portfolio to ensure our assets continue to meet the needs of current and new occupiers – this is central to our investment strategy and has borne fruit with our recent series of long-term lettings at Hartlebury Trading Estate to ambitious and growing occupiers.”

Rupert Jeffries of Collingwood Rigby, SREF’s asset managers for the estate, said: “Demand for opportunities at Hartlebury Trading Estate is high, with the site currently experiencing record low void rates. Just last month we broke ground on a 30,000 built-to-suit distribution centre for ETAC, and this opportunity means that we are able to offer prospective new occupiers the chance to move into another brand-new building at the site.

“Having secured permission from planners at Wychavon District Council, we can work with our tenants to build a high-specification warehouse and office, with fully fitted turnkey opportunities available. The resulting building will have extensive parking and yard-space and benefit from the high-power availability, excellent connectivity and the secure business environment that we offer to all of our tenants.”

Occupiers at the Hartlebury Trading Estate include FedEx, TNT, Worcester County Council, Grafton Group, EDM Group and Forest Garden.