A new multi-million-pound warehouse, which developers plan to build speculatively in Shropshire, will be in high demand as businesses across the region struggle to find high quality units to match their plans to relocate or expand, according to national commercial property consultancy Lambert Smith Hampton (LSH) and regional surveyors Bulleys Bradbury.
LSH and Bulleys Bradbury have been appointed to market the 70,540 sq ft manufacturing/distribution unit, which will bring new jobs and investment to Telford.
Trebor Developments, working in conjunction with its partner Hillwood, has unveiled plans to build the warehouse to be completed early next year at the Hortonwood West industrial estate.
Matthew Tilt, head of industrial agency at LSH in Birmingham, said Trebor’s decision to build the unit speculatively demonstrates its confidence in the market amid strong pent-up demand among businesses in the region and across the Midlands.
“No developer has speculatively built any warehouse or industrial unit on this scale in Telford for a very long time. There is a shortage of high quality units like this, particularly in the mid box range, meaning that businesses are struggling to find suitable property in Telford should they want to relocate or grow their operations,” said Matt.
“I am confident that there will be a huge amount of interest in this development as it is a size that is in demand and is in an excellent location for the motorway network, being just four miles from the M54. We’ve already had several expressions of interest.”
Rod Spiby, director at Bulleys Bradbury, said: “The new development that has taken place at Hortonwood West over the last two years has been a great success. This new unit will be prominently located on a corner plot, built to Trebor Developments’ usual high standards, offering a unique opportunity in the Telford area. The lack of supply and strong demand for this quality of building is already resulting in strong interest.”
Bob Tattrie, managing partner of Birmingham-based commercial property specialists Trebor Developments, said “With little new-build speculative industrial development built in this area for many years, we believe this quality unit will meet occupiers’ requirements for new accommodation on an excellent business park, of which this is the final industrial plot. We look forward to delivering in 2020.”
The unit, known as Ore70, will have a 12-metre minimum working height, six dock level loading doors, two ground level loading doors, a secure yard, power supply of up to 1 MVA, fitted first floor offices, in a prominent position facing on to the A442 Queensway. It will be available to let on a new lease on terms to be agreed. An application to Telford and Wrekin Council for detailed planning consent has been submitted.
For more information visit www.Ore70.co.uk.