THE Royal Enfield Industrial Estate has been bought by Redditch Borough Council for £2.75million.
The freehold site is fully let and totals 25,546 sq ft with 11 industrial or warehouse units and one detached office.
Tenants include Screwfix and lithium ion battery suppliers Fogstar, producing a total annual rental of £200,162.50.
The deal was arranged through Redditch property agents John Truslove and the firm’s joint managing director Ian Parker praised the council for acquiring a valuable property and employment asset for the town.
“This is an ideal mix for a local authority investment and displays great confidence in the local economy, despite the current uncertainty,” he said.
Borough Council Leader Councillor Matt Dormer said: “We are committed to unlocking Redditch’s potential and this purchase demonstrates we are confident in the future economy of our borough especially with the prospect of Amazon coming here in the near future.
“Local Government has to work differently against a backdrop of reduced funding and in response this council pledged to make sound investments to support regeneration in the borough.
“This will support businesses and ensure the council can realise funding so we can continue to provide top notch, frontline services which benefit everyone.
“Thanks to the hard work of our officers, this purchase, has come to fruition and is just the start of this council’s portfolio of success to continue to support regeneration in our area.”
The estate is built on the original site of the legendary Royal Enfield factory which originally produced parts for the Enfield rifle and then, from 1909 onwards, manufactured the iconic motorcycles, as well as bicycles, lawnmowers and stationary engines.
During World War 1, Royal Enfield supplied the War Department with consignments of motorbikes fitted with sidecars capable of carrying stretchers.
Other versions featured a Vickers machine gun sidecar attachment which could also be turned skywards and used against low flying aircraft.
Production of motorcycles ceased in 1970 and the original Redditch company was dissolved in 1971.
However, the bikes were also being made in India and this remains the case today from where supplies models across the world.