THE county’s leading commercial property agency has reported another record year with sales and lettings up 30 per cent on 2015.
Chartered surveyors and valuers John Truslove, who are based in Redditch, said Brexit had been a mere ‘hiccough’ in a very successful year.
Sales of industrial properties, in particular, were up. They trebled in 2016 and could have been far higher if more stock was available in north Worcestershire.
John Truslove director Ian Parker said the demand was further evidence of the pressing need to identify more employment land in north east Worcestershire and the M42 corridor.
“It was noticeable that Hepworth Park, seven units speculatively built, let in short order, and when the 50,000 sq ft Unit 2 at Acanthus Park was released it was snapped up by Avon Groupage prior to practical completion.
“This was Redditch’s first speculatively-built, large-scale Grade A industrial unit since the 2008 recession and it provided powerful evidence of the underlying demand for space in the town.
“Redditch, Bromsgrove and Droitwich are very well placed location-wise. They have good, skilled and semi-skilled residents and there is clearly an opportunity here that is being missed,” he said.
But he pointed to Royal Enfield Business Park as the next jewel in Redditch’s crown. The former manufacturing site of the iconic Royal Enfield motorcycle is being re-developed into factory and warehouse units.
Redditch firm EDR Developments are set to deliver a total of 11 units available separately or in combinations, ranging from 1,000 to 24,210 sq ft, with completion scheduled for summer 2017.
John Truslove is marketing the scheme.
