Automotive deal at industrial estate triggers new build development
An industrial estate has reached full capacity, with the final two units at the site being let to an automotive specialist, triggering plans for up to 100,000 sq ft of new build industrial warehousing.
Units 16 and 17 at Erdington Industrial Estate have been let to ADI Automotive Services at a rent in excess of £160,000 a year.
The units, which have a combined floor plate of over 30,000 sq ft, have recently been refurbished..
Neil Slade, of Harris Lamb’s agency team, said: “This estate has always been a popular choice due to its central location and convenient access to the M6, which lies just one mile away. Further to investing in a full refurbishment at the units, we were able to market the opportunities to attract occupiers seeking a well-appointed industrial premises with excellent access links.
“The units, which were available separately or could be combined, offered roller shutter door access, integral open-plan offices, a demised yard and car parking, and these facilities coupled with the standard of the refurbishment, met the business’ requirements, resulting in terms being agreed for both warehouses,” he said.
“While we are delighted to have overseen this letting, it does highlight the continuing dearth of high-quality commercial space throughout the Midlands as another popular estate reaches fully let status and we are delighted that the landlord is working up plans for new, speculatively built mid box units going forward.
The estate provides approximately six acres of development land and plans are being prepared for the new build of up to 100,000 sq ft, offered as either a single let or units of approximately 40,000 sq ft and 55,000 sq ft.
It is expected the units will be ready for occupation in Summer 2023.
Harris Lamb acted as joint agents alongside JLL.